Some industries hopeful tariff wars may benefit them
ISTANBUL
Some business circles are voicing optimism that the tariff wars U.S. President Donald Trump has started may benefit Türkiye, which could emerge as a reliable supplier.
Türkiye, an important trading partner of the EU, has also been growing its exports to the U.S. by double digits in recent years. The U.S., meanwhile, currently imposes tariffs ranging from 10 to 36 percent on various products from Türkiye.
Despite the potentially significant risks from trade wars, Türkiye is expected to maintain an advantageous position and emerge as a reliable supplier, according to some businesspeople.
Amid the trade wars, Türkiye, with its strength in production capabilities and its perception of reliability will come to the forefront, said Kazım Taycı, president of the Istanbul Cereals Pulses Oil Seeds and Products Exporters' Association (İHBİR).
“We are continuously achieving double-digit growth in processed agricultural products to the U.S. The tariff move against the close allies of the U.S. will level the conditions for us,” he argued.
He is also hoping that China, from which Türkiye imports the most raw materials, semi-finished and finished products, “will create more advantageous conditions for us.”
European and U.S. buyers will reconsider their supply security policies and turn to safer production hubs, according to Toygar Narbay, president of the Turkish Clothing Manufacturers' Association (TGSD).
This will benefit Türkiye, which has the largest vertical integration in this industry after China, he added, noting that the Turkish ready-to-wear industry is the fourth largest producer in the world, the sixth largest exporter, and the third largest supplier in Europe.
Together with the textile sector, Türkiye represents the second-largest supply chain after China, Narbay said.
