Trump's economic policies could pave the way for Turkey.

The elected president of the USA, Donald Trump's economic policies are expected to be beneficial for developing countries, and Turkey is anticipated to gain from this situation.

TWO SCENARIOS EMERGE

Şant Manukyan, Deputy Director of İş Yatırım Menkul Değerler, provided evaluations regarding the potential effects of Trump's presidential election victory on the industrial sector. Manukyan stated that it is important to know in which areas Trump will apply customs tariffs, mentioning that two scenarios have emerged, particularly concerning China and Europe.

"WE CAN TAKE THE PLACE OF THE CHINESE MARKET"

Manukyan expressed that studies indicate that if Trump directly applies customs tariffs to Europe, the region's growth could decrease by 1%. Noting that the continent's growth rate is currently around 1%, Manukyan stated: "This decline in growth could negatively affect our export items. On the other hand, if customs tariffs are applied to China, which would pressure and hinder the country, as the statements suggest, Turkey could benefit. Because in this case, the alternative production market would be Europe. Since we are a producing economy, Turkey will ultimately be positively affected. We could take the place of the Chinese market in some items."

"COMPETITION IN INTERNATIONAL MARKETS WILL BECOME TOUGHER"

Seyit Ardıç, President of the Ankara Chamber of Industry (ASO), also pointed out that with Trump's election victory, the future financial, monetary, and trade policies of the USA are being shaped, and this will have global repercussions. Ardıç noted that high tariffs and protectionist measures will make competition in international markets tougher and that global growth will lose momentum. He stated that Trump's tough stance on trade relations with many countries, especially China and the EU, could lead to changes in global trade. Ardıç mentioned that the USA will try to pressure China by using tariffs and other invisible barriers to regain its competitive edge, particularly in high technology, medical, and renewable energy products.

"IT MAY HAVE A POSITIVE IMPACT ON FOREIGN TRADE"

Ardıç emphasized that supplies will still be sourced from developing countries, stating: "Trump's policies may positively impact the foreign trade of developing economies like Turkey, as they will lower interest rates and increase spending and investments. The USA's further restriction of imports from China also presents opportunities for Turkey as a supplier country. On the other hand, if other countries respond to the USA's policy and the BRICS bloc acts together, there is a possibility of a contraction in global trade. Because as protectionist policies spread to all countries, global trade could be disrupted, and the supply chain could be broken. However, I do not think this will cause significant structural breaks. In this period, where global trade and international relations are being reshaped, the long-term effects of Trump's policies remain uncertain. However, the economic model he follows will lead to a reassessment of economic and political dynamics worldwide."

"WE VIEW TRUMP'S POLICIES POSITIVELY"

Şahin Tin, Deputy Chairman of the Turkish Grand National Assembly's Industry, Trade, Energy, Natural Resources, Information and Technology Commission, stated that Trump and his cabinet prioritize peace, industrial production, and trade. Tin said, "We view Trump's policies on the world and the economy positively for Turkey and industrialists. Production and the return of trade are very important for the Turkish economy and business world. However, more importantly, it is to end the wars in Syria, Lebanon, Palestine, and Gaza and to rebuild the cities, so that innocent people do not die with the revival of humanity."