By Busra Nur Ozcan and Huseyin Yesilkavak
BURSA, Turkey (AA) – The U.S. is an important country but not an important trade partner of Turkey, Mehmet Simsek, deputy prime minister, said on Saturday.
Speaking about the U.S.-imposed tariffs and threats, he said businesspeople in the western province of Bursa expressed their concerns to him over a possible global trade war during a meeting.
“Turkey is one of the countries least affected with regard to trade, especially automotive export, but a trade war will wreck the mood generally, ” he said.
Simsek added that he hoped the U.S. tariff decision is just a negotiation tactic.
“We have the customs union with the EU, Turkey needs the EU and EU needs Turkey, ” he said.
“Therefore, our relations will deepen and enlarge, I believe, after the election uncertainty we will broaden the scope of the customs union. “
He also said, due to Turkey's trade with the EU, if a trade war begins, its effects will be limited to Turkey.
In March, American President Donald Trump imposed a 25-percent tariff on imported iron and steel, and a 10-percent tariff on aluminum — since then the issue has been discussed heatedly among the U.S. and its major trade partners.
After that, the EU placed a 25-percent tariff on American products and Trump threatened to impose more tariffs on all European cars.
Touching on Turkey's financial situations, Simsek said: “We are in a period when Turkey's current deficit and inflation are removed. “
He stressed that Turkey took an important step for monetary policy and the country will make structural reforms.
On Sunday, June 24, a presidential and parliamentary election will be held in Turkey.
* Gokhan Ergocun contributed to the story from Ankara
