Türkiye, US reaffirm commitment to $100B trade target, says trade minister

Turkish Trade Minister Omer Bolat announced on Friday that Türkiye and the United States are prepared to maintain close dialogue and cooperation to achieve the long-standing $100 billion trade volume target following a teleconference meeting with his American counterpart, Howard Lutnick.

Bolat held a virtual meeting with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer, during which both sides discussed ways to deepen economic and commercial ties between Türkiye and the United States.

“During the meeting, which was very productive, we congratulated both Secretary Lutnick and Ambassador Greer on their new appointments and emphasized our powerful will further to advance the economic cooperation between the two countries,” Bolat said in his post on X.

‘US recognizes Türkiye’s critical importance in trade’

The minister underlined that both sides reaffirmed their readiness to realize the $100 billion trade target, initially set in 2019 by Turkish President Recep Tayyip Erdogan and U.S. President Donald Trump, and said the parties expressed determination to pursue this objective actively.

Bolat stated that Türkiye conveyed its aim to strengthen bilateral cooperation in a range of sectors, including energy, infrastructure, automotive, textiles and apparel, agriculture, health, the digital economy, and chemicals. He noted that U.S. officials highlighted Türkiye’s strategic significance as a trading and investment partner, voicing their willingness to collaborate and openness to considering new initiatives to enhance trade volume and expand cooperation across additional areas.

“We plan to meet with Secretary Lutnick and Ambassador Greer in person soon,” Bolat added, explaining that, ahead of this meeting, both sides agreed to organize a session of the Trade and Investment Council next month at the technical level between Türkiye’s Trade Ministry and the U.S. Trade Representative’s Office, aiming to maintain momentum in ongoing trade discussions.

He further emphasized that Türkiye and the United States would continue to intensify their collaborative efforts to boost bilateral trade and economic engagement.

Turkish exports to the United States are currently subject to a baseline 10% reciprocal tariff, with Trade Minister Bolat previously indicating that negotiations to potentially lift or revise the measure will be carried out between the two countries’ respective ministries.