U.S. President-elect Donald Trump’s protectionist commerce insurance policies and extra tariffs might provide sure benefits to growing international locations, with specialists saying Türkiye’s industrial sector would profit.
Sant Manukyan, supervisor of International Capital Markets at Türkiye-based IS Investment, informed Anadolu Agency (AA) that Trump’s tariffs on Europe might trigger a 1% decline within the area’s progress.
“While a decline within the progress of the area might have an effect on Turkish exports, tariffs on China might positively affect Türkiye to interchange China in sure export objects since Türkiye is a producing financial system,” he stated.
Seyit Ardıç, chairperson of the Ankara Chamber of Industry (ASO), stated Trump’s victory has introduced the U.S.’ future insurance policies into focus, which can have world ramifications.
Ardıç defined that rising tariffs and protectionist insurance policies will make world competitors more difficult and decelerate progress, warning that world commerce as we all know it could change on account of Trump’s harsh stance towards China and the EU.
He famous that the U.S. would doubtless apply “invisible boundaries” to stress China and enhance its competitiveness in high-tech, renewable vitality and different sectors.
“Trump’s policies may positively influence the foreign trade of emerging economies like Türkiye, as his policies aim to lower interest rates and increase spending and investments, while the U.S. further limiting Chinese imports can create opportunities for Türkiye as a supplier country,” he stated.
“Though, there’s a risk of a contraction within the world commerce if international locations retaliate towards the U.S.’ future insurance policies and the BRICS group acts collectively, because the additional growth of protectionist commerce insurance policies can disrupt world commerce and provide chains,” he added.
Şahin Tin, deputy chairperson of the Turkish Parliament’s Industry, Trade, Energy, Natural Resources, Information and Technology Commission, acknowledged that Trump and his administration prioritize peace, elevated industrial manufacturing, and commerce.
“We view Trump’s insurance policies on the world and the financial system as constructive for Türkiye and Turkish industrialists, as manufacturing and commerce are considerably necessary for the Turkish financial system and its business neighborhood; nevertheless, extra importantly, it’s of nice significance to finish the struggle in Syria, Lebanon and Palestine, and to rebuild their cities and to forestall harmless folks’s deaths,” he stated.
Source: www.dailysabah.com