Türkiye Seeks Boosting Trade with U.S.

(MENAFN) Assessing the impact of U.S. tariff policies, the Turkish Deputy Trade Minister emphasized that Türkiye does not represent a threat to American trade interests, highlighting that the nation remains on the "white list."

During a gathering titled "Towards the $100 Billion Trade Volume Target: A New Era in Turkish-American Economic Relations," hosted by the Foreign Economic Relations Board of Türkiye (DEIK) on Wednesday in Istanbul, Murat Tuzcu outlined Türkiye’s ambition to expand its portion in American imports—currently valued at $3.5 trillion—to 1.5%.

Tuzcu pointed out that Türkiye is among the nations with the most minimal tariffs, maintaining a stable trade balance and holding substantial investments in the U.S., mirroring America’s financial footprint in Türkiye.

"Even though a limited number of countries have achieved this export, countries with production and manufacturing capabilities close to similar export figures and trade volumes," he remarked, suggesting Türkiye shares competitive characteristics with leading exporting nations.

Presently, Türkiye’s outbound trade to the U.S. stands between $16 and $17 billion.

Despite notable strides in the past ten years, this figure remains modest, Tuzcu acknowledged.

"This is even lower when we exclude products like petroleum and energy; the number of products we include in this basket needs to increase," he emphasized, noting the importance of diversifying export categories.

Tuzcu also revealed that Türkiye has designed a strategic plan to capitalize on opportunities arising from shifting market dynamics caused by U.S. tariffs.

"We have specifically identified a roadmap for removing products from countries that will lose market share due to these tariffs, prioritizing which products will allow us to compete, and prioritizing specific areas and sectors," he added.

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