Turkey announced new import tariffs on coal coming from the US. Import tariffs on US thermal coal increased to 13.7%, while duties in coking coal rose to 10%. Both tariffs increased from the current 5% regime introduced on 22 June. The move comes as the latest trade war between the US and Turkey escalates.
This means that the legislation to increase the sulphur cap on imported coal from the current 1.1% to 3% may be delayed as it no longer has economic sense. This legislation would have allowed power generators that burn imported coal to take advantage of lower-priced high-sulphur US thermal coal. The increase in the coal tariffs makes the import of US coal uneconomical.
Source: Turkish Finance Ministry