Experts suggest Trump’s additional tariffs may enhance Türkiye's industry
(MENAFN) Experts suggest that President-elect Donald Trump’s protectionist trade policies and additional tariffs could present opportunities for developing countries, with Türkiye’s industrial sector poised to benefit. Sant Manukyan, the manager of International Capital Markets at Türkiye’s IS Investment, stated that while Trump’s tariffs on Europe may lead to a 1 percent decline in the region’s growth, the tariffs imposed on China could create a favorable environment for Türkiye to replace China in certain export categories, as Türkiye is a producing economy.
Seyit Ardic, chairman of the Ankara Chamber of Industry, emphasized that Trump’s policies will have significant global implications, bringing the future direction of U.S. trade policies into sharp focus. He warned that rising tariffs and protectionist measures would intensify global competition and slow down economic growth, with the potential to fundamentally alter global trade. Ardic noted that Trump’s harsh stance on China and the European Union could lead to significant shifts in international trade dynamics.
Ardic further explained that the U.S. is likely to implement "invisible barriers" aimed at pressuring China and boosting its own competitiveness in sectors such as high-tech and renewable energy. He also highlighted how Trump’s policies could benefit emerging economies like Türkiye, as the U.S. focuses on lowering interest rates, increasing spending and investments, and limiting Chinese imports—opening up opportunities for Türkiye as a supplier.
However, Ardic also cautioned that retaliatory actions from other countries, particularly if the BRICS countries act in unison, could lead to a contraction in global trade. He warned that the further expansion of protectionist trade policies could disrupt global trade and supply chains, potentially causing significant upheaval in the international market.
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