Turkey could gain a competitive edge in accessing the U.S. market following the United States’ decision to impose higher tariffs on goods from major trading partners while maintaining a relatively low baseline tariff on Turkish exports, according to Turkish Vice President Cevdet Yilmaz.
Cevdet Yilmaz © DKL
Turkey could gain a competitive edge in accessing the U.S. market following the United States’ decision to impose higher tariffs on goods from major trading partners while maintaining a relatively low baseline tariff on Turkish exports, according to Turkish Vice President Cevdet Yilmaz.
Speaking to CNN Turk on Saturday, Yilmaz highlighted that the new 10% baseline tariff applied by the U.S. as part of President Donald Trump’s recent trade measures could actually favor Turkish exporters. In contrast, higher levies are set to take effect next week on products from 57 countries, including China, the European Union, Vietnam, and Japan.
“The decision not to include Turkey among those hit with higher tariffs appears to work in our favor for gaining access to the American market,” Yilmaz said.
He noted that Turkish exports of iron, steel, and aluminum have already been subject to U.S. tariffs in previous years. With new tariffs imposed on other global exporters in these sectors, the market is seeing a level playing field that may enhance Turkey’s competitiveness.
Yilmaz also pointed out that Turkey, as a major importer of raw materials, may benefit from declining global commodity prices, especially oil, in the wake of Trump's tariff announcement. “This could have a positive impact on our import costs and trade balance,” he added.
The comments come amid global concern over the potential inflationary effects of the U.S. tariffs, as well as growing uncertainty about future trade dynamics under the current U.S. administration.
A teenager opened fire at a high school in Turkey's southeastern province of Sanliurfa on Tuesday, wounding at least 16 people including students and teachers before killing himself, the province's governor said.
LVMH's most prized division, fashion and leather goods, home to Louis Vuitton and Dior, has reported a 2% decline in organic revenue in Q1, undershooting even the modest contraction analysts had anticipated, according to Gate Advisory, a firm specializing in Financial Intelligence.
Negotiating teams from the U.S. and Iran could return to Islamabad later this week, five sources said on Tuesday, days after the highest-level talks between the two countries in decades ended without a breakthrough.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
