Deals US and EU make with other important trading partners, particularly China, will create new environment at global level, Cevdet Yilmaz says
Trade agreement reached between the US and the EU is a positive development in terms of reducing uncertainty in the global economy, the Turkish vice president said on Monday.
"Its content and impacts should also be evaluated. Although a framework agreement has been reached, it is understood that some details will become clearer over time," Cevdet Yilmaz said on X.
The deal, announced on Sunday, will see the US impose a 15% import tariff on most EU goods, half of the threatened rate of 30%.
The bloc will also invest $600 billion in the US, and purchase $750 billion worth of American energy and military equipment.
The agreements both the US and the EU will make with other important trading partners, particularly China, will create a new environment at the global level, he stressed.
Yilmaz said the new trade conditions will not only affect trade but also investment decisions, supply chains, and logistics routes.
"We are closely monitoring the potential effects of all these developments on our country's economy," he added. "As a country with a customs union with the EU, free trade agreements with many countries, balanced trade with the US, and important trade objectives, we are continuing our efforts to evaluate the opportunities presented by the new environment and take precautions against threats."
Türkiye is keeping bilateral trade negotiations with the US on the agenda, he added.
