Turkey Ready to Impose Retaliatory Tariffs on US Imports - Cavusoglu

"We discussed [with Pompeo] the economic relations between our countries. The tariffs imposed by the United States are worrying about our industry. We said at the talks that if we impose retaliatory measures, they will inflict more losses to the United States because our [US] import is greater than export," the minister told the NTV broadcaster.

On Monday, Cavusoglu and US Secretary of State Mike Pompeo discussed the pressing issues in the Turkish-US relations, including the US tariffs on imported steel and aluminum, which were imposed by US President Donald Trump earlier in March and triggered resentment among a number of the US trade partners.

Analysts Explain Possible Outcome of US Tariffs Policy: 'Workers Will Lose'

5 June 2018, 01:16 GMT

The US tariffs already became a disputed issue between Washington and its closest allies, Canada, Mexico and the European Union. On Thursday, Washington announced it would impose a 25-percent steel tariff and the 10-percent aluminum tariff on the European Union, Canada, and Mexico, effective June 1. The move came after months of talks on possible exemptions.

Meanwhile, Washington has also been engaged in intensive trade negotiations with Beijing. The two parties reached an agreement in late May to reduce the bilateral trade deficit, but it is yet unclear whether the deal will work amid bilateral warnings to impose additional restrictions.