Türkiye expects tariff relief from new U.S. administration: trade minister-Xinhua

Türkiye expects tariff relief from new U.S. administration: trade minister

Source: Xinhua

Editor: huaxia

2024-11-07 21:28:30

ANKARA, Nov. 7 (Xinhua) -- Türkiye expects the new U.S. administration to lower tariffs on its steel and textile exports following the re-election of Donald Trump as the U.S. president, Turkish Trade Minister Omer Bolat said on Thursday.

Bolat made the remarks when speaking to local broadcaster A Haber. "We expect improvements in bilateral relations, including the removal of certain embargoes on our defense industry's needs," he said.

The Turkish minister added that Turkish companies and banks face significant pressures from sanctions on Russia, expressing hope that "these pressures would be alleviated and eventually removed."

Bolat also expected a more balanced and fair approach towards the region from the new U.S. administration.

However, in 2018, then-President Trump authorized higher tariffs on imports from Türkiye, imposing a 20-percent duty on aluminum and a 50-percent one on steel, as tensions mounted between the two sides over Ankara's detention of an American pastor and other diplomatic issues.