First reaction from Turkey to Trump's new tariff decision: Minister Bolat calls it an 'advantage'

The changes made by US President Donald Trump to customs tariff rates have been widely debated. The first reaction to the tax change in Turkey came from the Ministry of Trade. Minister of Trade Ömer Bolat pointed out that Turkey is in the group of countries subject to the lowest additional duties in the US tariffs, and noted that they want to address this situation in negotiations with the US Department of Commerce and the Office of the United States Trade Representative regarding the removal of customs duties imposed on exported products.

The statement made by Bolat is as follows:

"With the announcement made by US President Trump on April 2, 2025, as previously announced, a new trade policy based on the principle of reciprocity has been implemented, and higher additional customs tariffs to be applied to various countries have been announced.

In the US announcement, it is stated that these 'additional taxes,' which have been put into effect against countries with which the US has a high foreign trade deficit and which it faces with obstacles such as tariffs, are intended to revitalize the US industry, reduce the foreign trade deficit, and direct foreign investments to the US. In this context, the minimum additional customs duty rate to be applied by the US to all countries has been determined as 10%, and our country has also been subjected to additional customs duties on imports at the same 10% rate. In this case, our country is in the group of countries subject to the lowest additional tax.

On the other hand, additional customs duties of 34% for China, 20% for the European Union, 46% for Vietnam, 24% for Malaysia, 29% for Pakistan, 25% for South Korea, 26% for India, 24% for Japan, 36% for Thailand, 49% for Cambodia, 30% for South Africa, and 25% for South Korea have been announced by the US. In particular, the high customs duties imposed on Far East Asian countries, where the US foreign trade deficit is increasing, are noteworthy.

US President Trump also announced in his statement that he is open to negotiations with all countries regarding these high customs duties.

With President Trump's new practices, the process of change in global supply chains is expected to accelerate. In this context, our country will intensify its trade activities towards the US in the coming period and, by making the right readings in the new trade order that customs tariffs will create, will increase its collaborations within the 'win-win' principle. The reality is that serious disruptions could occur in every country subject to additional customs duties, both on a bilateral basis with the US and in their own markets and export markets.

In this direction, as Turkey, in addition to our comprehensive action plans such as the 'Distant Countries Strategy,' which also includes the US, we will begin to implement our preparations for various sectors such as textiles, ready-to-wear, and machinery. As a result of the implementation of these, opportunities will also arise for further liberalization of trade between Turkey and the US."

100 BILLION DOLLAR TRADE TARGET

• Starting from January of this year, we are meticulously monitoring all decisions implemented by the US administration and maintaining our dialogue with the US side at every level. Following the telephone conversation between our President and US President Trump, our Deputy Minister of Trade held a meeting with the Deputy US Trade Representative. In this meeting, the roadmap for our commercial and economic relations with the US, issues regarding the resolution of mutual problems in trade, and new steps that can be taken were discussed. Furthermore, it was decided that the next meeting of the Trade and Investment Council (TIFA) to increase trade and investment cooperation between the two countries will be held as soon as possible. Personally, I will attend the Turkish-American Conference in Washington D.C. in mid-May, and on this occasion, I will hold official talks for a joint business plan in line with these goals agreed upon with the US Secretary of Commerce and the US Trade Representative (USTR).

• Our commercial relations with the US are growing. Our trade volume with the US increased by 4.7% in 2024, reaching 35.2 billion dollars. While the US's share in our exports in 2024 was 6.2%, the US ranked 2nd among the countries to which we export the most. The US had a surplus of 2.4 billion dollars in our mutual foreign trade in 2024. Our efforts to reach the 100 billion dollar trade target set during the first term of our President and President Trump will continue uninterrupted.

• As Turkey, we are striving to develop trade and economic cooperation with the US, as with all countries, in a balanced manner within the framework of the win-win principle. To increase our commercial and economic relations with the US, we will increase contacts in the coming period and take steps to facilitate and strengthen this process on a sectoral basis.

• Since there was a surplus of 2.4 billion dollars in favor of the US in foreign trade between the two countries for 2024, we want to address this situation in negotiations with the US Department of Commerce and the Trade Representative regarding the removal of the 10% additional customs duties imposed on products exported from Turkey to the US. The US President had already stated yesterday that they are open to negotiations regarding these taxes.

• On the other hand, we evaluate the fact that the US has imposed much higher customs duty rates on a large number of countries as a 'lesser of two evils' situation for Turkey in terms of US imports.

• In light of the new developments that emerged yesterday, we will continue our trade relations with the US in light of this principle and carry out our work towards increasing the economic relations between the two countries."

News Source: 12punto