Trump's baseline tariff plays to Turkiye's advantage, vice president says

The relatively low 10% baseline tariff that the United States has applied to Turkiye could favour Turkish exporters, Turkiye's vice president Cevdet Yilmaz has said, according to Reuters.

Along with the baseline tariff that took effect on Saturday, U.S. President Donald Trump has announced higher levies on goods from 57 larger partners including China, European Union, Vietnam and Japan that are due to start next week.

The decision not to impose such levies on Turkiye "seems to be to our advantage as of now, for access to the American market", Reuters quoted Vice President Cevdet Yilmaz as saying in an interview with CNN Turk.

"There were already tariffs on iron, steel and aluminium (exports from Turkiye to the U.S.). When (the U.S.) imposed similar tariffs on the others, there was an equalisation there, it was in our favour," Yilmaz added, according to Reuters.

Yilmaz said that as an importer, Turkiye would also benefit from a drop in international commodity prices, including oil, following Trump's announcement.

Trade Minister Omer Bolat said on Friday that the Turkish government wanted to negotiate with the U.S. to lift the 10% in new tariffs.

He called them the "best of the worst", given higher tariffs on many other countries.