Turkey announced on Tuesday a large tariff on grain imports. The move could be related to Turkish President Recep Tayyip Erdogan’s re-election campaign and the country’s grain deal with Russia and Ukraine.
The 130% tariff will apply to certain grains, including wheat and corn. There is no tariff currently in place, Reuters reported.
Why it matters: The tariff follows some Eastern European countries banning wheat imports from Ukraine in order to protect their local agricultural sectors. Erdogan may be seeking to do the same for Turkish grain, according to Reuters.
Grain is an important issue in Turkey’s upcoming elections on May 14. Last year, Turkey brokered a deal with Ukraine and Russia on the safe passage of Ukrainian grain through the Black Sea amid the ongoing war. The agreement was extended this past March.
