Türkiye expects US to lift 10% tariffs, trade minister says

Turkish Trade Minister Omer Bolat announced that he will formally request the removal of a 10% tariff imposed by the United States during his upcoming visit to Washington next month.

Japonya Tarım, Orman ve Balıkçılık Bakanı Sayın Eto Taku ile açık ve yapıcı bir görüşme gerçekleştirdik.

Tarım ve balıkçılık sektörlerini yalnızca ticari değil; aynı zamanda gıda güvenliği, sürdürülebilirlik ve yenilikçilik perspektifinden ele alarak, bu alanların… pic.twitter.com/TF99CS7jRW

— Prof. Dr. Ömer Bolat (@omerbolatTR) April 24, 2025

The statement was made during his visit to Japan, where he is leading a delegation of government and private sector representatives to enhance economic cooperation.

Balanced trade and long-term $100 billion target

Responding to questions from reporters at Osaka EXPO 2025, Bolat said Türkiye and the US maintain a strong trade relationship and that Türkiye holds a balanced position in bilateral trade, with the U.S. posting a surplus.

“It is natural for the US to prioritize countries with which it has a foreign trade deficit in its protective measures. The US has a surplus with us. In that sense, we expect the 10% tariff to be removed. This will be our concrete demand,” Bolat said.

He added that Türkiye’s “Far Countries Strategy” is actively being pursued to increase trade with the US and the wider American continent, aiming for a long-term bilateral trade volume target of $100 billion.

Türkiye Exporters Assembly (TIM) and the Foreign Economic Relations Board (DEIK) are involved in efforts to realize this goal.

Concerns over global trade volatility

Bolat emphasized that the uncertainty in global trade could have lasting negative effects.

“We hope that countries realizing this will work towards developing a multilateral global trade system and implementing its rules with common sense,” he stated. “If trade decreases, global income shrinks. This benefits no one.”

Reflecting on past crises such as the 2008 financial crash and the COVID-19 pandemic, Bolat said global recovery was possible even after significant economic contractions.

“I think we will overcome these,” he added.

Strengthening Türkiye-Japan economic cooperation

During his Tokyo visit, Bolat held discussions with several high-ranking Japanese officials, including Minister of Land, Infrastructure, Transport, and Tourism Nakano Hiromasa and Minister of Agriculture Eto Taku.

He also met with Japan External Trade Organization (JETRO) President Ishiguro Norihiko.

He emphasized deepening cooperation in infrastructure, smart mobility, clean energy, and third-country contracting, particularly in the reconstruction of Ukraine and infrastructure projects in Africa and Asia.

Agreements between Turkish and Japanese firms were recently signed for two major projects in Turkmenistan.

Economic partnership agreement negotiations underway

Bolat confirmed that negotiations on the Türkiye-Japan Economic Partnership Agreement (EPA) are ongoing.

“Progress in this area is important for concluding the agreement in a comprehensive and balanced manner,” he said. He also highlighted the role of Turkish agricultural exports to Japan and called for a mutually beneficial framework.

Inviting Japanese investment in strategic sectors

Speaking at the Türkiye-Japan CEO Roundtable, Bolat invited Japanese companies to invest more in Türkiye’s key sectors, including manufacturing, green energy, digital industries, and smart cities.

He noted that Japanese direct investments in Türkiye amount to $3.1 billion across 275 firms, but this still represents just 0.11% of Japan’s global investment portfolio.

“We invite Japanese investors to explore Türkiye’s rising potential and increase investment, particularly in manufacturing, clean energy, electric vehicle ecosystems, and strategic infrastructure,” he said.

He also cited successful joint projects such as the Dubai Metro and Doha Airport expansions, as well as Japanese involvement in Turkish infrastructure like the Marmaray Tunnel and the rehabilitation of the Fatih Sultan Mehmet Bridge.