During a recent business dialogue held in Istanbul, the President of the Denver Metro Chamber of Commerce, J.J. Ament, asserted the need for minimising trade barriers between the United States and Türkiye. This call for open trade comes at a pivotal time when leaders from both nations are rallying around an ambitious $100 billion bilateral trade target, first established during discussions between Turkish President Recep Tayyip Erdoğan and former U.S. President Donald Trump in 2019. Ament highlighted the vast untapped potential that exists between the two nations, encouraging free investment to flow easily across borders.
Ament’s remarks were made at the “Türkiye-Denver Business and Investment Dialogue” on May 7, 2025, which coincided with meetings of the Türkiye-US Business Council (TAIK). During the discussions, Murat Ozyegin, head of TAIK, reiterated the increasing collaboration aimed at expanding commercial ties. The recent launch of direct flights between Istanbul and Denver by Turkish Airlines was noted as a significant facilitator of business travel, helping to enhance connections further. Currently, trade between the U.S. and Türkiye stands at approximately $32.5 billion. When including services, this figure rises to between $45 and $46 billion, reflecting a marked progression towards the $100 billion target.
Discussions concerning this ambitious goal also encompass significant structural changes, such as the need to revise tariffs that have hampered trade. Turkish President Erdoğan has previously urged the U.S. to lift sanctions that restrict defence purchases from Türkiye, including tariffs on crucial materials such as iron, steel, and aluminium. These restrictions were initially imposed following Türkiye’s acquisition of Russian S-400 defence systems and, according to Erdoğan, their removal is essential for bolstering trade relations and enhancing defence cooperation.
Efforts to achieve the $100 billion target are bolstered by various strategic working groups aimed at addressing trade barriers and fostering investment opportunities. Ozyegin pointed out that Türkiye possesses the capacity for closer cooperation with the U.S. and suggests that the current trade deficit of approximately $500 million is relatively minor. The recent suspension of additional tariffs by the U.S. government for all trade partners except China has created a unique window for negotiation that both nations aim to capitalise on.
Furthermore, the Turkish Trade Minister, Ömer Bolat, has reaffirmed the country’s commitment to this trade volume goal amidst ongoing dialogues with American counterparts. He emphasised the importance of collaboration, particularly in an era marked by economic uncertainties. As highlighted during a teleconference with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer, the focus extends beyond just numbers. Both nations are keen to strengthen mutual cooperation across various sectors, including energy, infrastructure, automotive, and agriculture.
Additionally, the prospect of a free trade agreement between Türkiye and the U.S. has emerged as a significant topic in these discussions. Mustafa Gültepe, Chairman of the Turkish Exporters Assembly, has noted that such an agreement could substantially aid in realising the $100 billion trade objective, while also advocating for necessary structural reforms to support exporters facing financial challenges in a difficult economic landscape.
As discussions continue and strategies are developed to bridge the gap, many see the $100 billion target not just as a numerical goal but as a manifestation of a deeper, more integrated economic relationship between Türkiye and the United States. The mutual commitment shown by leaders from both nations points towards a future where economic collaboration may enhance geopolitical ties, strengthening not only trade but also the broader partnership between these two influential countries.
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Source: Noah Wire Services
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