Saudi Arabia
Riyadh-led OPEC+ raises quotas as region teeters on escalation
Saudi Arabia, Russia and five other OPEC+ members meeting online Sunday agreed to raise oil production quotas for September, even as war rages across the Middle East.
Turkey has expressed its intention to engage in direct talks with the United States to seek the removal of a 10% additional tariff imposed on Turkish goods under the trade measures announced by President Donald Trump, Trade Minister Omer Bolat said on Saturday.
Omer Bolat © TBN
Turkey has expressed its intention to engage in direct talks with the United States to seek the removal of a 10% additional tariff imposed on Turkish goods under the trade measures announced by President Donald Trump, Trade Minister Omer Bolat said on Saturday.
In a statement, Bolat described the tariffs as the "best of the worst", noting that many other countries have been hit with even steeper duties under the same policy. However, he stressed the need for dialogue to address what Ankara views as an unfair measure, especially in light of current trade dynamics.
“We want to discuss the issue in negotiations with the U.S. Department of Commerce and Trade Representative,” Bolat said, emphasizing that bilateral trade in 2024 resulted in a $2.4 billion surplus in favor of the United States.
Turkey is expected to formally request consultations with U.S. authorities in the coming weeks, as part of efforts to rebalance trade relations and reduce tariff-related burdens on Turkish exporters.
The additional tariffs were part of a broader U.S. trade policy initiated under Trump’s presidency and maintained, in part, by subsequent administrations. Turkish officials have argued that the measures disproportionately affect Turkish industry, despite longstanding commercial ties between the two NATO allies.
In a statement, Bolat described the tariffs as the "best of the worst", noting that many other countries have been hit with even steeper duties under the same policy. However, he stressed the need for dialogue to address what Ankara views as an unfair measure, especially in light of current trade dynamics.
“We want to discuss the issue in negotiations with the U.S. Department of Commerce and Trade Representative,” Bolat said, emphasizing that bilateral trade in 2024 resulted in a $2.4 billion surplus in favor of the United States.
Turkey is expected to formally request consultations with U.S. authorities in the coming weeks, as part of efforts to rebalance trade relations and reduce tariff-related burdens on Turkish exporters.
The additional tariffs were part of a broader U.S. trade policy initiated under Trump’s presidency and maintained, in part, by subsequent administrations. Turkish officials have argued that the measures disproportionately affect Turkish industry, despite longstanding commercial ties between the two NATO allies.
By Nidar Hosban
Saudi Arabia, Russia and five other OPEC+ members meeting online Sunday agreed to raise oil production quotas for September, even as war rages across the Middle East.
President Donald Trump said Friday that Israel was "very happy" with an agreement reached by his so-called Board of Peace for the complete disarmament of Hamas and other armed Palestinian groups in Gaza.
Lebanese President Joseph Aoun received a Palestinian delegation at Baabda Palace on Friday, led by Yasser Abbas, special representative of Palestinian Authority President Mahmoud Abbas.
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