OREANDA-NEWS Ankara anticipates that the trade conflicts will have a limited impact on Turkey due to the measures implemented and the economic strategy.

"In recent days, the global trade disputes have escalated. The repercussions of the market turmoil have not yet subsided. There is a high likelihood that some major economies will experience a downturn. We have assembled a strong economic team. We are implementing a plan that will address economic challenges and enhance our resilience to shocks. The world is facing significant uncertainty, but Turkey has a robust economic strategy. We do not anticipate a negative scenario in the areas of trade, production, and exports. We will navigate through this period more easily, as we are countries with low tariffs. Let our business community remain calm, and let our citizens maintain tranquility in their hearts," the Turkish leader stated in a speech to parliament on Wednesday.

President Trump of the United States has recently issued an executive order imposing retaliatory tariffs on imports from other nations. The initial rate will be 10%, with most countries facing higher rates. These rates, as explained by the office of the United States Trade Representative, were calculated based on the trade deficit between the United States and a particular country, aiming to achieve a balance instead of a deficit. The new tariffs on Chinese imports, which add to existing measures, amount to a total of 54%, as stated by Treasury Secretary Scott Bessent. According to the president, this will be a declaration of economic self-sufficiency for the United States and will help utilize the vast sums of money to repay the national debt.