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- Turkey -

Turkey lifts some retaliatory tariffs on U.S. goods ahead of Erdogan–Trump talks

Turkey announced it is ending certain additional tariffs on U.S. imports imposed in 2018 in response to U.S. steel and aluminum duties. The rollback—affecting items such as passenger cars, rice, fruit, and tobacco—comes ahead of President Tayyip Erdogan’s visit to the United States for the UN General Assembly and a bilateral meeting at the White House. Ankara framed the decision as part of efforts to improve relations and expand trade, reiterating a goal to lift annual bilateral trade to $100 billion from roughly $30 billion last year. While easing some retaliatory levies, Turkey also announced new customs duties of 25%–30% on car imports from countries outside the European Union and those lacking free‑trade agreements with Turkey. The move follows years of tension tied to U.S. metals tariffs introduced during Donald Trump’s first term and subsequent measures by Turkey. Turkish officials said negotiations with Washington are ongoing and emphasized that the latest step aims to create a more favorable environment for wider trade discussions. Markets will watch whether the change affects Turkish imports of U.S. industrial goods and whether any metal‑related tariffs see further adjustment. The policy shift arrives as Ankara seeks to stabilize its economy, build investor confidence, and navigate complex trade dynamics with major partners while maintaining protections for domestic manufacturing and auto sectors.

Iron ore futures extend gains as China outlines stricter steel capacity controls

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Baosteel Q3 net profit jumps 130% on demand recovery and resilient exports

LME proposes permanent curbs on large nearby positions amid depleted stocks, zinc squeeze

China lifts curbs on Hancock Prospecting’s MB fines purchases, easing iron ore trade friction

China’s CISA mills lift early‑October crude steel output 7.5%; inventories also climb

India’s steelmakers seek relief from import curbs as H1 met coke shortfall widens

China iron ore futures slip; Tangshan concentrate prices steady amid tight supply

Indonesia suspends all scrap metal imports after radioactive contamination detected

Serbia asks EU to exempt it from proposed new steel tariffs and quota cuts

U.S. judge signals approval of Rio Tinto’s $138.75 million Oyu Tolgoi investor settlement

Rio Tinto says strong Q4 needed to hit iron‑ore target after Q3 shipments of 84.3 mt; China demand firm

ArcelorMittal’s M&A chief in South Africa for talks on sale of local unit, sources say

EU plan to halve steel import quotas and double out‑of‑quota tariff to 50% raises Indian export risk