04.04.2025 17:01
The Minister of Treasury and Finance, Mehmet Şimşek, evaluated the additional tax decisions of the United States. Stating that Turkey is in the category with the lowest tax application, Şimşek said, "Our country's relatively low tariff rate may provide a comparative advantage in certain sectors."
The Minister of Treasury and Finance, Mehmet Şimşek, commented on the additional customs tariffs imposed by the U.S., stating, "While weak global growth poses a risk to our exports, our country's relatively low tariff rate may provide a comparative advantage in some sectors."
In a statement made on social media, Minister Şimşek used the following expressions:
The annual foreign trade deficit improved by $7.3 billion in March compared to the same month of the previous year, reaching $84.5 billion. Despite the day being shorter, exports increased by 3.2% year-on-year in March, while the increase in imports, excluding energy, was 0.8%.
Tariff increases, which are expected to negatively affect global growth, are raising risk perception in the markets and creating downward pressure on commodity prices.
While weak global growth poses a risk to our exports, our country's relatively low tariff rate may provide a comparative advantage in some sectors. On the other hand, a decline in commodity prices and tightening domestic financial conditions are expected to weaken imports.
We will continue to support production and exports in line with our sustainable current account deficit target.