Home Business U.S. terminates Turkey's preferential trade agreement, reduces tariffs on steel Business U.S. terminates Turkey's preferential trade agreement, reduces tariffs on steel By Genpie - May 17, 2019 174 0 Facebook Twitter Google+ Pinterest WhatsApp The United States on Thursday terminated Turkey’s preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%.