MÜSİAD praises new US tax decision

MÜSİAD Malatya Branch President Yunus Akçin made important statements regarding the new trade policies announced by US President Donald Trump. Akçin stated that the 10 percent minimum additional customs duty that the US has begun to apply to imported products should be evaluated as the "lesser of two evils" for the Turkish business world.

Emphasizing that while high taxes ranging from 25 percent to 49 percent are being applied to products coming from countries such as China, Vietnam, Pakistan, and India under the new regulation, this rate is limited to 10 percent for Turkey, Akçin said, "This situation creates a serious competitive advantage for Turkish firms."

"TURKEY MAINTAINS A FAIR PARTNERSHIP RELATIONSHIP WITH THE US"

Reminding that Turkey had a trade deficit of 2.4 billion dollars in its foreign trade with the US as of 2024, Akçin said, "This picture shows that Turkey is a fair trade partner and provides an advantage on the diplomatic front. It may pave the way for a more positive approach from the US toward Turkey."

"NEW DOORS OPENING FOR EXPORTERS"

Expressing that the new tax rates contain significant opportunities for Turkish exporters in the American market, Yunus Akçin made the following assessments: "US firms that import from Far Eastern countries will look for alternative suppliers to avoid high tax burdens. At this point, Turkey stands out with both its geographical advantage and quality production. The preference rate for Turkish products in sectors such as ready-to-wear, textiles, machinery, and automotive spare parts could increase significantly."

CALL FOR INVESTMENT AND PARTNERSHIP

Akçin also called on Turkish firms to invest in the US market, stating, "In this process, it is of great importance for our firms to open warehouses or showrooms in the US, or to become permanent in the market through local partnerships. Likewise, Turkish entrepreneurs in the US making distributorship or representation agreements with manufacturers from Turkey could create important opportunities."

"A CRITICAL PERIOD ON THE ROAD TO THE TARGET"

Drawing attention to the active negotiations the Ministry of Trade is conducting with the US, Yunus Akçin said, "Our business world also needs to contribute to this process. The coming period is of critical importance to reach the 100 billion dollar trade volume target set between Turkey and the US."

Finally, calling on all MÜSİAD members and business people to closely follow current developments regarding the process, Akçin stated that following the publications of the Ministry of Trade and TIFA meetings would be of great benefit.