“I have great relations with a man named Erdogan,” United States President Donald Trump Said Last Week “I like Him, and he likes me. We have never had a problem.”
But his declaration regarding the Turkish President Recep Tayyip Erdogan had not beenQuite True Relations in between the Two Leaders contendTimes Been Fraught In October 2019, Trump Threated to “Totally Destroy and Obliterate the Turkish Economy” If the Country Didn’t Obey hisWishes Militarily In a Letter to Erdogan Later that Month, Trump Called on Him to Make A “Good Deal” Regarding Military Tensions in the Region, Warning the Turkish Leader Again That He would certainly Ruin the Country’s Economy If He Saw Fit.
In the last Six Years, Turkey Has Taken a Financial Beating, with theLira Losing Considerable Value In March 2007, one us buck was Worth Around 1.30 Turkish Lira, while in October 2019 it was battle WARTH 5.79, and Today It is Worth 38.06 Lira.
Although Trump May have undoubtedly the Turkish Economy with Previous Sanctions, The Two Leaders Seem to Get Along Better Today In thePast This might be evidened yet the reality that Turkey was among the nation Least Affected by Trump’s New Tariff Policies, with a Tariff of 10% Now Imposed onTurkish Goods Trump’s 90-day break on Tariffs and the General Reduction to 10% for all nation other than china have currently Other Countries on the very same degree as turkey for the time.
A New Opportunity?
While the European Response to the Tariffs has actually been unfavorable, Turkish Business Representative See Thema Theme as An Opportunity Rather aCrisis They appear persuaded that with the appropriate profession plan, turkey can take advantage of the brand-new scenario.
The Tatiffs Could Help Turkish Exporters in Particular to Gain an Advantage in the Highly Competitive Us Market, According to Bülent Aymen, Deputy President of the Association of Mediterranean Furnic, Paper andForest Products Exporters “The US has been our hot market for Three Years. Our exports are increate every month. The intensification of the Tariff War Enables Turkey to Gain Market Share Search as Chemicals, Cars, Furnic and Electronics. We must make good of this advantage,” Aymen Said.
Trade in between Turkey and the Us Amounts to Over $ 30 Billion (EUR 26.4 Billion). After Germany, The Us ISTurkey’s Second Most Important Trading Partner Turkish Exports to the Us Have Risen by an Average of 16% Over the Past Five Years, While Us Exports To Turkey Have Increased by 9%. Accord to the Turkish Exporters Assembly, The Country Exorted Goods Worth Around $ 21.1 Billion (EUR 18.6 Billion) to Germany in 2023, and Earned Around $ 14.8 Billion from Exports to theUs According to the Turkish Statistical Institute, Exports to the Us Rose to $ 16.3 Billion at the End of 2024.
Turkey Exports Mainly Chemical Products, Automotive Parts, Clothing, Carpets and Electronics to theUs It Imports Over Half of Its Cotton From the Us – For Textiles That Then Then End Exorted Back To The Same Country.
Trump’s High Taiffs Against China and the European Union Could scent the Visibility of Turkish Products On The Us Market, Said Seref Fayat, The Textile Commissioner at the Union of Chambers and Commodity Exchanges ofTurkey “We need to act quickly now. We can use the problem that china, vietnam and cambodia are liker to have to our advantage.”
Criticism of Turkey’s Trade Policy
Fayat is positive regarding the future of profession withTrump’s America “I Don’t Expect Turkey to Be Negative Affected by the New Situation,” Hey Said, Adding that He would certainly suldest negotiating Limited Tariff-Free Trade with theUs “This is a very important opportunity. However, we must closely monitor How Our Most Important Trading Partner, the EU, will be affected by the us Tariff Policy,” He alerted.
But some in Turkey Are Still justCautiously Optimistic While the possibility exists, numerous turkish business are not yet prepared to capitalize on it, Said Murat Aky üz, Former President of the Istanbul Chemicals andChemical Products Exporters Association “I See the New Us Tariff Policy As a Great Opportunity for Turkey. At the Same Time, I Think Exporters in Turkey Are not Suffedly Prepared.” In the past, numerous chances were not manipulated going “No Sustainable Trade Policy was pursued,” he included.
Fayat So Sees Potential Issues, Search as Limited Access to Turkish Products In The Us Due to A Lack of Trade Centers andWarehouses “Although Trump Announced Thesis Tariffs A Long Time Ago, We unfrittunately did not make the necessary Preparations,” Hey Said.
A possible manufacturing center
In Addition to Exports, Turkey Could Establish Itself as a Strategic Player in Another Field: AS A Production Location forAsian Companies Inviting Companies from China to have their items Manufactured in Turkey would certainly assist Avoid High Customs Duties, forExample The geopolitical scenario as a bridge in between eastern and West Could Favor search to setup.
“We need to explain to thesis country, Especialy China, The Advantated of Reloccation Production to Turkey,” Aky üzSaid “We Should Actively Promote Investment in This Country. With its infrastructure and skilled laboratory potential, turkey is well positioned for this. The Ministry of Trade in Particular has a role to play here.”
This post was initial inGerman
