Turkey imposes 130% tariff on grain imports
Turkey announced on Tuesday a large tariff on grain imports. The move could be related to Turkish President Recep Tayyip Erdogan’s re-election campaign and the country’s grain deal with Russia and Ukraine.
The 130% tariff will apply to certain grains, including wheat and corn. There is no tariff currently in place, Reuters reported.
Why it matters: The tariff follows some Eastern European countries banning wheat imports from Ukraine in order to protect their local agricultural sectors. Erdogan may be seeking to do the same for Turkish grain, according to Reuters.
Grain is an important issue in Turkey’s upcoming elections on May 14. Last year, Turkey brokered a deal with Ukraine and Russia on the safe passage of Ukrainian grain through the Black Sea amid the ongoing war. The agreement was extended this past March.
The grain deal “boosted Turkey’s image among wheat-dependent non-Western countries,” and playing up Turkey’s role as an international mediator on the issue could be politically beneficial, according to a Monday report from the DC-based Wilson Center.
The grain tariff is not the only protectionist measure Turkey has implemented recently. In March, Turkey imposed an additional 30% customs duty on electric vehicles from China. This was also related to the election, as Erdogan has been campaigning on plans for Turkey’s own Togg electric vehicle, according to Bloomberg.
Interestingly, Turkey’s official Anadolu Agency reported on Tuesday that electric vehicle registrations in Turkey doubled during the first quarter of 2023.
Know more: The May 14 elections in Turkey are critical for the country’s future. Erdogan, in power for more than a decade, is vulnerable due to Turkey’s economic crisis. Turkey’s undecided voters could be the key to success for Erdogan or main opposition candidate Kemal Kilicdaroglu, Al-Monitor’s Ezgi Akin reported from Ankara on Saturday.
