The panel titled “The Effects of the U.S.'s New Customs Duties on the Global Economy,” organized by the Faculty of Economics and Administrative Sciences at OSTİM Technical University, offered a multidimensional platform for evaluating global trade balances, economic policies, and their impact on Türkiye.
The panel was attended by Chairman of the Board of Trustees Orhan Aydın, Rector Prof. Dr. Murat Yülek, and Vice Rectors Prof. Dr. Ünsal Sığrı and Prof. Dr. Mustafa Polat. Moderated by Assoc. Prof. Dr. Bahar Erdal, Head of the Department of Economics, the panel brought together distinguished experts from the public sector, academia, and the business community
Panel Speakers:
- Prof. Dr. Rasim Özcan – Istanbul University: Evaluated the impact of changes in global trade policies on macroeconomic balances.
- Assoc. Prof. Dr. Güzin Bayar – Ministry of Trade: Discussed the impact of the US's new customs duties on Türkiye's export policies from a public perspective.
- Prof. Dr. Mahir Nakip – Çankaya University: He made remarkable analyses on the cultural and regional effects of globalization.
- Assoc. Prof. Dr. Recep Yorulmaz – Ankara Yıldırım Beyazıt University: He touched upon the reflections of de-globalization trends on the financial system.
- Mahmut Muhiddin Keskin – Presidential Investment Office: Shared information about Turkey’s investment environment and adaptation strategies to the new economic order.
- Yunus Sarıhan – MÜSİAD Ankara: He conveyed the business world’s approach to protectionist policies and the real sector’s expectations.
The Search for a New Balance in the Global Economy
One of the prominent topics in the panel was that the free market and globalization paradigm that took shape in the 1990s was now being questioned. Participants pointed out that although it was not a complete "de-globalization", a new balance was being established between globalization and protectionism..
It is predicted that the world economy will evolve into a dual structure in the coming period, where national and regional priorities gain importance in strategic areas while continuing global interaction with digitalization.
Roadmap for Türkiye
It was emphasized that Türkiye will experience mixed effects from this transformation process and that it needs to implement strategic transformations accordingly. The following recommendations for policy makers were highlighted in the panel:
- To ensure the predictability of the trade and investment environment,
- Prioritizing structural reforms that will increase competitiveness in strategic sectors,
- Building a model that is open to global cooperation but resilient to economic shocks..
New Order, New Opportunities
Speakers gave the message that “globalization is not over, its rules are being rewritten.” It was emphasized that Turkey should position itself correctly in this new order and turn current threats into opportunities.
