Turkey Repeals 2018 Tariffs as U.S. Trade Ties Show Promise

by THEFUTURE.TEAM

September 22, 2025

Tariffs Lifted Amid Strategic Diplomatic Engagement

Turkey has formally repealed the retaliatory tariffs imposed on U.S. imports in 2018—a move signaling a potential thaw in bilateral relations. The decision, announced in Turkey’s Official Gazette, comes as President Tayyip Erdogan prepares for a series of high-level meetings in the United States, including a visit to the United Nations General Assembly and a scheduled White House appointment with U.S. President Donald Trump.

Reassessment of Past Trade Measures

The reversed tariffs, which in their original form had impacted a range of products from passenger cars and fruit to tobacco and chemical products, were initially enacted to counter U.S. tariffs on steel and aluminum during Trump’s first term. The rollback is a calculated step in advancing negotiations between the two nations, particularly as trade volumes have historically lagged behind the ambitious goal of reaching $100 billion in bilateral trade.

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Historical Context and Future Prospects

The unfolding developments are rooted in a complex history marked by both personal rapport and policy discord. While the rapport between Erdogan and Trump once signaled a promising era, strategic disputes—including U.S. concerns over Turkey’s defense purchases and regional affiliations—had previously strained relations. This tariff reversal may pave the way for renewed dialogue, offering both countries an opportunity to recalibrate their trade and defense partnerships.

Economic Implications and Strategic Outlook

Turkey’s trade ministry emphasized that the removal of these tariffs reflects progress in ongoing negotiations, underpinning Ankara’s commitment to diversifying and broadening trade ties with Washington. With last year’s bilateral trade volume at approximately $30 billion, both administrations appear keen on increasing economic engagement and exploring new areas of collaboration. In a further signal of its evolving trade policy, Turkey also announced additional customs duties on certain passenger car imports, excluding those from the European Union and nations with which it has free trade agreements.

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EU Farm Output Prices Decline For The First Time In Nine Months

by THEFUTURE.TEAM

March 12, 2026

EU Market Adjustments Signal New Price Trends

Agricultural output prices across the European Union declined in the fourth quarter of 2025, marking a shift after several quarters of increases. Data from Eurostat shows that farm gate prices fell by 1.9% compared with the same period in 2024.

Crisis of Declining Prices In Select Markets

Cyprus recorded one of the more notable decreases in agricultural input costs among EU member states, with prices falling by 2.6% compared with Q4 2024. The reduction eased cost pressures for the local agricultural sector following periods of higher prices earlier in 2025. Across the EU, prices for goods and services consumed in agriculture remained relatively stable. Non-investment inputs such as energy, fertilisers and feedingstuffs showed limited overall changes during the quarter.

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Country-Specific Divergence In Price Movements

Eurostat data highlights considerable variation across member states. Fifteen EU countries recorded declines in agricultural output prices. Belgium registered the largest decrease at 12.9%, followed by Lithuania (8.2%) and Germany (6.0%). At the same time, twelve countries reported increases in output prices. Ireland recorded the strongest rise at 6.8%, followed by Slovenia (5.6%) and Malta (4.2%).

Stability In Agricultural Inputs Amid Commodity Shifts

Agricultural input prices also showed mixed developments. Eleven member states recorded declines, including Cyprus (2.6%), Belgium (2.1%) and Sweden (2.0%). Other countries experienced moderate increases, including Lithuania (4.2%), Ireland (3.3%) and Romania (2.5%). Among major agricultural commodities, milk prices declined by 4.1% while cereal prices fell by 8.9% across the EU. In contrast, fertilisers and soil improvers increased by 7.9%, reflecting continued volatility in input markets.

Outlook For EU Agriculture

The latest Eurostat data points to uneven price developments across the EU agricultural sector. While input prices remained broadly stable in many markets, movements in output prices varied significantly between member states. These trends highlight the need for farmers and policymakers to adapt to shifting commodity prices and changing cost structures across the European agricultural market.

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