Türkiye expects Washington to ease, remove trade hurdles
ISTANBUL
Türkiye expects the new administration under Donald Trump’s presidency to remove some trade barriers, Trade Minister Ömer Bolat has said.
He noted that the bilateral trade volume almost doubled compared to five years ago to $35 billion.
Türkiye and the United States had set a target of reaching $100 billion in trade volume five years ago, Bolat recalled speaking at an event in Istanbul.
With the new administration at the White House, Bolat said: “We expect that some of the barriers to Türkiye’s trade with the U.S., especially those on textiles and iron and steel products, will be reduced or removed.”
In earlier remarks last week, Bolat said that expectations from the Trump administration are high.
“He [Trump] claimed that he could end wars, which would be good for trade. We will see if he could achieve securing ceasefire in Palestine or force the warring sides in the Ukrainian-Russian conflict to a peace deal. These are very critical developments as we are at the very center of them,” he said.
Türkiye will also keep a close eye on the Trump administration’s international trade policies.
“In terms of tariffs, will the U.S. take extraordinary precautionary measures against China or against us?...Let’s say, there is a cautious optimism,” he added.
Bolat said that due to Russian sanctions, there is heavy pressure on Turkish companies and banks.
“We expect that these pressures should ease or disappear,” the minister added.
Bolat also said that political communication channels between Türkiye and the U.S. can work better at the leadership level.
“We hope that it will evolve for the better at the level of government, ministers and organizations. This is our expectation,” he added.
