Türkiye establishes tariff diplomacy group to minimize potential damage

Despite being one of the least affected countries by U.S. President Donald Trump’s tariff policies, Türkiye focuses on minimizing the repercussions of the tariffs, which have been on hold for three months.

Trump declared 10% reciprocal tariffs on Türkiye, along with many other nations, in a major speech on April 2.

The “tariff diplomacy” efforts between Türkiye and the U.S. will accelerate with the establishment of a new working group in a meeting held Friday in Ankara, the Turkish trade minister told Türkiye’s state-owned Anadolu Agency (AA).

Omer Bolat said the working group, including participants from Turkish ministries, will “act calmly and work intensively” on issues arising from Washington’s tariffs.

He noted that after U.S. President Donald Trump announced reciprocal tariffs on April 2, serious declines in commodities came to the fore, especially in oil. The minister said it is “a very active period,” as the working group assesses “the impact of the new U.S. foreign trade policy and the tariffs on Türkiye.”

Türkiye open for negotiations with tariff diplomacy group, minister says

“We had talks with the US deputy secretary of commerce, and I’m sending an official letter to the secretary of commerce to negotiate — the U.S. already said they’re open to negotiations,” he said.

“The U.S. has direct investments worth $15.5 billion in Türkiye, and we have $11 billion in the US,” he noted regarding Türkiye’s foreign trade volume with the US.

“Our priority is to ensure that we elevate the economic relations between Türkiye and the US to higher figures, but we need to be on alert for developments.”

“Our working groups need to be constantly analyzing and assessing the product- and sector-based impact of the current developments and keep up negotiations to benefit both sides—we’re doing exactly that now,” he added.

Bolat touches upon EXPO 2025 Osaka

Bolat said Japan, one of the leading countries in world trade and economy, will hold EXPO 2025 Osaka between April 13 and Oct. 13, and Türkiye will participate in the event.

“On April 23, Türkiye’s National Sovereignty and Children’s Day, culture and arts, and trade and tourism activities will be held, and on one day (during the expo), we will meet Japanese officials, business representatives, and employer organizations, and we will participate in business and investment forum meetings in Tokyo,” he said.

The minister noted that Japanese investments in Türkiye are around $3 billion, and the trade volume between Türkiye and Japan is $5.4 billion as of 2024.

“We’re in talks with the Japanese government and relevant ministries to balance this trade, and we strive to ensure that the EXPO and our official program to Japan will create new investment and trade opportunities for the two countries,” he added.