Experts says Trump’s protectionist policies could benefit Turkey’s manufacturing sector
(MENAFN) According to experts, President-elect Donald Trump's protectionist trade policies and extra taxes could assist emerging countries, particularly Turkey's manufacturing sector.
Sant Manukyan, manager of International Capital Markets at IS investment in Turkey, told Anadolu that Trump's tariffs on Europe might reduce the region's growth by 1 percent.
“While a decline in the growth of the region may affect Turkish exports, tariffs on China may positively impact Türkiye to replace China in certain export items, since Türkiye is a producing economy,” he stated.
According to Seyit Ardic, chairman of the Ankara Chamber of Industry, Trump's victory has focused attention on the US's future policies, which would have worldwide consequences.
Ardic highlighted that growing tariffs and protectionist measures will exacerbate global competition and hinder GDP, warning that global trade as we know it may alter as a result of Trump's tough position against China and the EU.
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