Turkey Foresees Limited Impact from US Tariffs Due to Strong Economic Foundations

President Tayyip Erdogan conveyed on April 9 that Turkey anticipates minimal adverse effects on its trade, production, and exports following the implementation of U.S. tariffs. He emphasized Turkey's economic resilience and the strength of its economic program, projecting robust economic growth compared to similar nations in the medium to long term. Erdogan highlighted that Turkey's ongoing disinflation process, combined with government-led spending discipline and savings measures, contribute to the nation's economic stability. Some analysts suggest that the relatively low U.S. tariff of 10% on Turkey could position the country as a potential beneficiary amidst global trade adjustments. Experts also note that Turkey's focus on domestic demand and existing trade agreements may further mitigate the impact of the tariffs. While acknowledging potential challenges from global economic shifts, Turkish officials express confidence in the country's ability to navigate the evolving trade landscape and maintain a positive economic trajectory.