Turkish Vice President Cevdet Yilmaz has said that Türkiye may find itself in a relatively advantageous position in its trade relations with the US following President Donald Trump’s decision to impose new tariffs on imports.
Speaking on the matter, Yilmaz explained that the tariff imposed on Türkiye had been set at a minimal "base" rate of 10 per cent, a level that is not considered critical at this stage, Caliber.Az reports via local media.
He noted that the decision was not unexpected, as US authorities had previously raised tariffs on key Turkish exports such as steel and aluminum.
"After Trump’s decision to impose similar tariffs on other producing countries, Türkiye's position has been leveled, and this is a positive development," Yilmaz stated.
This move has potentially positioned Türkiye more favorably in the broader context of global trade with the US. Another benefit, according to Yilmaz, is the decrease in raw material prices, including oil.
"Türkiye is dependent on raw materials, including oil imports. Therefore, the drop in prices is a positive development for our country," he added.
This reduction in prices could ease some of the economic pressure Türkiye faces as a major importer of raw materials. However, Yilmaz also acknowledged potential risks associated with the new tariff regime.
"Countries that have been supplying goods to the US until now may start focusing more on other markets and adopt a more aggressive trade approach, which will increase competition for Türkiye as well," he warned.
The vice president further reminded that Türkiye and the US had set a target of increasing their bilateral trade volume to $100 billion per year. As of last year, mutual trade had already surpassed $32 billion.
Yilmaz revealed that Turkish-US economic talks are scheduled to take place in May, aiming to strengthen trade relations between the two nations.
Despite the risks, Yilmaz expressed optimism about Türkiye's potential to capitalize on the evolving trade landscape.
By Naila Huseynova
Source: caliber.az
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