US President Donald Trump’s actions have shaken up the markets. The sharpest declines since the Covid outbreak have been experienced. Rising tariff walls pose a threat to countries. The Turkish business world evaluated these developments. Global markets experienced the biggest collapse in recent years. The fuse in the markets was ignited by Donald Trump increasing import tariffs worldwide. While asset prices saw sharp declines, China’s response increased concerns. China announced that it would respond to the US with an equal amount of tax. Wall Street fell more than 10% in two days, wiping out $6 trillion. Sales spread worldwide by the beginning of the new week. Asian markets lost about 10% in one day. As the US started 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 some countries, including Turkey, the United Kingdom, Brazil, Australia, United Arab Emirates, New Zealand, Egypt, and Saudi Arabia. The business world assessed the potential opportunities that may arise for Turkey following Trump’s customs tariffs. “WE NEED TO DETERMINE PRODUCT AND COMPETITIVE STRATEGIES” Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç indicated that the Turkish business world could consider the country being in the 10% tariff category and stated, “For this, our business world needs to analyze Trump’s customs tariffs without delay and determine product and competitive strategies accordingly. In summary, our business world should turn Trump’s tariffs into an opportunity to positively differentiate Turkey.” The Istanbul Chamber of Industry (ISO) President Erdal Bahçıvan stated that Turkey would improve its competitive conditions both in investment and foreign trade. Bahçıvan expressed that a strategic study that can reveal sectoral opportunities would be necessary to proceed, stating, “Moreover, by working on competition very well, we are entering a period in which we need to take advantage of this historic opportunity with smart moves. But we have to work.” “TURKISH BRANDS WILL INCREASE THEIR STORE PRESENCE” Orhan Aydın, the President of the Anatolian Lions Businessmen’s Association (ASKON), stated that the additional 10% tax imposed on Turkey made the country even more competitive compared to other rates. Aydın also mentioned the need for all civil society organizations, especially export unions, to be vigilant for the increase of fairs and events in this regard in order to boost sales to America. Aydın pointed out that it would also be an advantage for Turkish brands to increase their stores in this region, saying, “With the current advantage, many of our brands will increase their presence in American cities, especially popular among tourists. Also, considering the high tax rate in the US market, the possibility arises that countries with high production capacity would consider Turkey as an investment hub due to their search for new markets.” “WE CAN INCREASE EXPORTS IN SOME SECTORS” Gürkan Yıldırım, the President of the Young Businessmen’s Association of Turkey (TÜGİAD), mentioned that in terms of exports, high taxes applied to China and the EU by the US could reduce imports from these regions, creating potential for Turkey to increase exports to the US in some sectors. Yıldırım also pointed out that from an investment perspective, the high taxes imposed on China, the EU, and Far Eastern countries could lead to some companies in these regions shifting their production to other countries. Yıldırım stated, “In such a case, if Turkey offers a favorable investment environment, it can attract these companies’ investments.”