Türkiye-US working group formed for trade relations

Noting that trade diplomacy has recently gained momentum and relations between countries have intensified, Bolat said that trade with major economic actors such as Mexico, Canada, the EU and China faced difficulties after Trump assumed the presidency. Bolat reminded that Trump announced additional tariff increases against these countries, aiming to reduce the foreign trade deficit.

Stating that China and some other countries made “retaliatory” statements against these tariff increases, Bolat emphasized that the US's announcement of a general tariff increase on April 2 had negative effects on global markets. Noting that there have been serious declines in the global commodity market, especially in oil prices, Bolat said, “It is a very active period. We will not panic, we will act calmly.”

Bolat noted that the working group, which was formed to evaluate the effects of these developments on Türkiye's foreign trade, is examining the new foreign trade policies of the US and how the tariff increases may affect Türkiye's products, sectors and general trade. The meeting of this working group, which will be held today in Ankara, is considered an important step in Türkiye's foreign trade strategies.