Don't alienate ally Turkey, US Chamber of Commerce tells Trump administration

Don't alienate ally Turkey, US Chamber of Commerce tells Trump administration

WASHINGTON
Dont alienate ally Turkey, US Chamber of Commerce tells Trump administration

The U.S. Chamber of Commerce has warned President Donald Trump against "alienating allies in a tit-for-tat trade war" in a statement on  U.S.-Turkey economic relations.

“Recent developments in the U.S.-Turkey relationship threaten both countries’ economic interests and put at risk an alliance that has proven its value over decades. Together with our U.S.-Turkey Business Council, we urge both governments to address their differences through dialogue rather than the unilateral application of tariffs, sanctions, and boycotts, which have shaken global markets in recent days," U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant said in a statement on Aug. 14.

“Escalating the use of Section 232 tariffs on imports from Turkey poses serious risks for the United States. For months, the U.S. Chamber has warned that alienating our allies in a tit-for-tat trade war would harm the U.S. economy and undermine American global leadership, and evidence of that harm to U.S. workers, farmers, and businesses is mounting," he added. “Instead, all parties should work with international financial institutions to calm markets and address persistent economic imbalances. Actions that heighten these tensions risk spreading today’s financial challenges to other emerging markets, to European banks, and, ultimately, to the U.S. economy.”

Since 2013, the U.S. Chamber of Commerce has been home to the U.S.-Turkey Business Council. The Council represents more than 60 of the largest U.S. companies doing business in Turkey.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 80 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.

Trade, Turkey sanctions, Chamber of Commerce