[ad_1]
The director of MMA, one of Russia's largest steel producers, told Reuters in an interview with Reuters that the company had postponed the launch of a lucrative project in Turkey because of the uncertainty caused by the world trade wars. The resumption of production of hot-rolled steel coils at its plant in Turkey would add between $ 90 and $ 100 million to the company's core profits, but the sudden increase in global trade barriers that the company did not consider it a delay.
We renovated the equipment in our factory to be fully operational "We made this decision before the US imposed tariffs on metalliferous companies, but we did not know it would happen . "
But MMA suspended the stimulus and plans to decide the fate "The project was launched in November after a clearer vision of the protective measures that the US and Europe have begun to apply in recent months . "
"We hope the transition to world markets will end." US President Donald Trump has imposed tariffs of 25% Regarding steel imports and 10% aluminum in March, a measure aimed primarily at reducing imports from China [19659002] Last week, the EU imposed new quotas and tariffs in response to the US decision. Trump's decision
These decisions did not directly affect MMAK because they did not export steel to the United States and the European Union, but 30% Turkish production was planned for the European market and the countries of the region.
The company also suspended deliveries to Iran due to new penalties
[ad_2]
Source link
