Turkey is positioned to benefit from a new US tariff policy that largely spares Turkish exports, Vice President Cevdet Yılmaz said Saturday. Speaking to broadcaster CNN Türk, Yılmaz said the relatively low 10% tariff that Washington imposed on Turkish goods could offer an edge for Turkish businesses seeking access to the American market.
US President Donald Trump has announced a series of higher tariffs targeting imports from 57 trading partners, including China, the European Union, India, Iraq, Israel, Pakistan, Syria, and the UK. These measures are expected to begin next week, raising levies on a range of goods from those countries. Turkey and the Gulf Cooperation Council countries, by contrast, were only hit with a 10% base rate.
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“There were already tariffs on iron, steel, and aluminum [exports from Turkey to the US]. When [the US] imposed similar tariffs on the others, there was an equalization there; it was in our favor,” Yılmaz said.
The vice president also noted that Turkey, as a significant importer of raw materials and energy, could benefit from global price drops triggered by Trump’s tariff announcement. A decline in commodities such as oil could ease inflationary pressures in Turkey and support its economy during a period of high import costs.
Trade Minister Ömer Bolat said on Friday that while Ankara seeks to negotiate a removal of the 10% tariff, the current situation compares favorably with steeper hikes imposed on other countries. He described the new US tariff on Turkish goods as the “best of the worst.”