President Donald Trump’s actions have rocked the markets. The sharpest declines since the Covid pandemic have been experienced. Rising tariff walls pose a threat to countries. The Turkish business world assessed these developments. Global markets witnessed the biggest crash in years. The fuse in the markets was lit by Donald Trump increasing import tariffs worldwide. As asset prices plummeted, China’s response escalated concerns. China announced it would respond to the U.S. with an equal amount of tariffs. Wall Street plummeted over 10% in two days, evaporating $6 trillion. Sales spread worldwide by the start of the new week. Asian markets lost around 10% of their value in a day. As the U.S. began to apply tariffs ranging from 10% to 50% on goods imported from many trading partners, it was announced that a 10% customs tax would be imposed on certain countries, including Turkey, the United Kingdom, Brazil, Australia, the United Arab Emirates, New Zealand, Egypt, and Saudi Arabia. The business world evaluated the potential opportunities for Turkey following Trump’s customs tariffs. “WE NEED TO DETERMINE PRODUCT AND COMPETITION STRATEGIES” President of the Istanbul Chamber of Commerce (ITO) Şekib Avdagiç indicated that the Turkish business world could assess their position in the country’s 10% tariff bracket. Avdagiç emphasized the need for the business community to analyze Trump’s customs duties without delay and determine product and competition strategies accordingly. In summary, Avdagiç stated that the Turkish business world should turn the differentiation of Turkey by Trump’s tariffs into an opportunity. The President of the Istanbul Chamber of Industry (İSO), Erdal Bahçıvan, highlighted a relatively positive approach towards Turkey within the industrial countries concerning the new customs tariffs of the U.S. Bahçıvan stated that Turkey will enhance its competitiveness in both investment and foreign trade. He expressed the need for strategic work to reveal sector-specific opportunities and noted, “We are entering a period where we need to exploit this historical opportunity with smart moves and by working very hard on our competitive lessons. But we need to work.” “TURKISH BRANDS WILL INCREASE STORE EXPANSION” Orhan Aydın, the President of the Anatolian Lions Businessmen Association (ASKON), pointed out that the additional 10% tariff imposed on Turkey has made the country more competitive compared to other rates. Aydın also suggested that all civil society organizations, especially export associations, should be on alert to increase the number of fairs and events held in this region to boost sales to America. Aydın highlighted that Turkish brands increasing their stores in this region is an advantage, stating, “With the current advantage, many of our brands will increase their stores, especially in tourist-heavy American cities. Furthermore, due to the high tax rate in the U.S. market, the possibility of Turkey becoming an investment hub for high-production countries seeking new markets is increasing.” “WE CAN INCREASE EXPORTS IN SOME SECTORS” Gürkan Yıldırım, President of the Turkish Young Businessmen’s Association (TÜGİAD), mentioned that from an export perspective, high tariffs that the U.S. will apply to China and the EU could reduce imports from these areas. Yıldırım stated, “This situation could create the potential for Turkey to increase its exports to the U.S. in some sectors. Especially, for sectors that supply from these areas, Turkey may emerge as an alternative supplier.” Regarding investments, Yıldırım pointed out that the high taxes imposed on China, the EU, and Far Eastern countries could lead some companies in these regions to shift their production to other countries. Yıldırım suggested that if Turkey provides a conducive investment environment, it could attract investments from these companies.