Turkish President Recep Tayyip Erdogan said that Türkiye does not expect its trade, production and exports negatively on customs duties imposed by US President Donald Trump and entered into force today, Wednesday.
In a speech to the ruling Justice and Development Party deputies in Parliament, Erdogan said that the Turkish economic program made the country be able to withstand external shocks, and that it expects stronger economic growth in the medium and long term compared to similar countries.
Earlier, Turkish Finance Minister Muhammad Shimashk saw that his country may be among the few countries in emerging markets that can benefit from the customs storm launched by Trump, stressing that the decrease in oil prices and the flexibility of trade relations give the Turkish economy a space for maneuver.
In an interview with the Financial Times published, Shimashk said: “When dust becomes clear, we hope and believe that Türkiye can excel positively in the eyes of investors compared to other emerging economies.”
Although Trump imposed a 10% essential customs tariff on Turkish imports, Shimashk indicated that the Turkish economy of $ 1.3 trillion is not among the most affected.
He explained that 80% of Turkey’s foreign trade is carried out with countries with free trade agreements, such as the European Union and neighboring countries in the Middle East, Central Asia and North Africa.
