Trade Turkey’s exports to US surge but tariffs are a threat By Pramod Kumar January 21, 2025, 11:01 AM Unsplash.com/Mads Eneqvist Steel exports generated $627.8m in revenues for Turkey last year Turkey’s exports to the US rose by $1.26 billion year on year to more than $13 billion in 2024, official data shows. The chemical and chemical products sector accounted for the largest share of exports at $1.5 billion, state-run Anadolu Agency reported, citing data from the Türkiye Exporters’ Assembly (TİM). The automotive industry followed at $1.2 billion and the ready-to-wear and apparel sector at $856 million. Carpet exports reached $784 million, while electric and electronic goods exports stood at $774 million. Revenue from fruit and vegetables amounted to $429 million, while steel exports generated $628 million. Süleyman Sanlı, president of the Turkish American Business Association, believes the protectionist policies of the Donald Trump administration may weaken Turkey’s competitiveness, especially in sectors such as steel and aluminum. He said higher tariffs could increase costs and limit access to the US market. Turkish exporters cashing in on end of Syrian conflict Turkey asks US to allow payments to sanctioned Russian bank Turkey hikes tariffs on Chinese cars to boost investment Despite concerns, treasury and finance minister Mehmet Şimşek said earlier this month that Turkey’s network of trade agreements, combined with its pivotal role as a major regional logistics and services provider, should help it weather any trade policy shifts by Washington during the Trump presidency. “Some countries will be affected more than others by the US trade policy uncertainties,” Şimşek said. “We expect to be affected relatively less because we do not have a trade surplus with the US and we are already facing customs tariffs.” Germany was Ankara’s largest export market at $18.1 billion. Exports to the UK followed at $1.25 billion, Romania ($998 million), Iraq ($959 million) and Italy ($879 million), the report said.