Turkey's Resilience Amidst U.S. Tariff Turmoil

President Erdogan asserts Turkey's economy will not suffer from recent U.S. tariffs, citing a strong internal economic program. Positioned as a low-tariff country, Turkey is set to benefit in global trade despite uncertainties, with continued disinflation and government spending discipline.

Amid the latest U.S. tariffs, President Tayyip Erdogan of Turkey expressed confidence that the nation's trade, production, and exports would remain unscathed. Speaking to his ruling AK Party lawmakers, Erdogan emphasized that Turkey has emerged as a potential winner due to its low reciprocal U.S. tariff rate of 10%.

Erdogan highlighted a robust economic program that has bolstered Turkey's resilience against external shocks, forecasting stronger economic growth relative to its peers in the medium to long term. Despite global uncertainty, Erdogan assured that Turkey's stringent economic policies would allow it to navigate this challenging period effectively.

Furthermore, Erdogan remarked on Turkey's ongoing disinflation process alongside the continuation of last year's government spending discipline and savings measures. Turkey, whose exports of iron, steel, and aluminum previously suffered under U.S. tariffs, now stands to gain competitive advantages as global traders face even higher levies.

(With inputs from agencies.)