Turkey decided to impose additional customs duties of 40% on car imports from China, according to a presidential decision published in the Turkish Official Gazette on Saturday.
The minimum additional fees were set at $7,000 per vehicle, and the decision takes effect as of next July 7.
According to the decision, the minimum customs duties apply even if the duties, which amount to 40% of the price of the imported car, are less than $7,000.
In 2023, Turkey had imposed additional duties on imports of electric vehicles from China, and introduced some regulations regarding maintenance and services of electric vehicles.
Turkey itself is an important market, as electric cars accounted for 7.5% of total vehicle sales in 2023 in the country.
Turkey’s Energy Market Regulatory Authority expects the number of electric vehicles in the country to increase by about 180,000 by 2025, with expectations indicating that electric vehicles will constitute 30.4% of domestic car sales by 2032, according to Bloomberg.
The new Turkish step is considered an attempt to curb imports and narrow the current account deficit.
The Turkish government is also taking measures to address inflation, which reached about 75.5% at the end of May, by maintaining a tight monetary policy, strengthening its financial position and narrowing the current account deficit.
