Türkiye emerges 'positively' in light of new US tariffs

(MENAFN) Türkiye has come out "positively" amid the recent US tariff changes by being placed in the lowest 15% tariff bracket, indicating that the US views it as a balanced and constructive trading partner, according to Türkiye’s Trade Ministry on Friday.

The ministry noted that US President Donald Trump’s new tariffs, ranging from 15% to 50%, will soon take effect globally. This development gives Türkiye a notable advantage compared to many Asian and Latin American countries, especially those without trade agreements with the US, which will face higher tariffs on exports to the American market.

The ministry highlighted that while the US is imposing a 50% tariff on certain steel products such as copper pipes and cables, other products like refined copper, ore, and concentrate are exempt. This change has caused prices to fall and supply to increase in the US copper market.

Key US trade partners without agreements, including Canada, Mexico, Thailand, and several Far Eastern countries like India, will face higher tariffs, with India also facing additional penalties.

Intense diplomatic and technical talks continue between Turkish and US officials focusing on tariffs in critical sectors like steel, automotive, and copper. The ministry described the negotiations as ongoing and constructive, particularly aiming to secure favorable terms for Turkey’s textile and apparel industries.

Türkiye’s main goal is to maintain its trade with the US under a “predictable, fair, and sustainable” framework. The recent executive order by the US president reflects progress in negotiations and highlights strengthening bilateral trade dialogue and cooperation.

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