Turkish Finance Minister Mehmet Simsek warned that rising global tariffs could negatively impact global growth by increasing market risks and pushing down commodity prices.
“These developments may pose a risk to Türkiye’s exports, but our relatively low tariff levels could offer some advantage,” he said.
Simsek also noted that falling commodity prices and tighter domestic financial conditions are likely to reduce imports.
He added that Türkiye’s annual trade deficit narrowed by $7.3 billion in March, reaching $84.5 billion. Despite fewer working days, exports rose 3.2% year-on-year, while non-energy imports increased by 0.8%.
His remarks follow recent U.S. tariff hikes that have intensified global trade uncertainty.
