Türkiye and U.S. Aim Strengthened Economic Ties in Trump’s Second Term

Under President Donald Trump’s second term, Türkiye and the United States are set to enhance cooperation in trade, energy, defense, and investments. Both nations aim to capitalize on recent growth in bilateral trade and explore opportunities across various sectors.

 

Record Trade Growth and $100 Billion Target

In 2023, bilateral trade between Türkiye and the U.S. surged by nearly 50% compared to 2020, reaching a historic $32.5 billion. Türkiye has set an ambitious goal of achieving $100 billion in trade volume, with Trump’s policies and mutual visits expected to align with this target.

Trade Minister Ömer Bolat highlighted plans to reduce customs duties on textiles and lift restrictions on steel exports, measures that could further accelerate trade growth.

Investment and Transportation Opportunities

The economic agenda will also prioritize mutual investments, as over 2,000 firms in Türkiye currently hold U.S. capital. Turkish Airlines is preparing to expand its U.S. destinations from 14 to 15, signaling growth in the transportation sector.

Additionally, Türkiye’s removal from the Financial Action Task Force (FATF) grey list and its improving credit default swap ratings are expected to bolster U.S. investor confidence.

Expanding Energy and Technology Cooperation

The U.S.-Türkiye Energy and Climate Dialogue, launched last year, is set to deepen collaboration in energy transformation and climate initiatives. American companies in space and technology are also poised to engage in joint projects and investment deals with Türkiye, marking a promising area of growth.

Strengthening Defense Industry Relations

Defense cooperation is another critical pillar, with the U.S. potentially reconsidering Türkiye’s status under the Countering America’s Adversaries Through Sanctions Act (CAATSA). This move could pave the way for increased collaboration in the defense sector.

With an emphasis on mutual benefits, Türkiye and the U.S. are expected to strengthen their economic and strategic partnership, signaling a new phase of collaboration during Trump’s presidency.

 

 

 

 

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