Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Internal friction among top economy officials came to light after a senior central banker dismissed the impact of political cycles on monetary policy. The remarks by Deputy Governor Cevdet Akçay triggered a sharp rebuke from pro-government figures and suggestions of a rift between the central bank and the Presidency.
The war that erupted on Feb. 28, between Iran, the U.S. and Israel has sparked deep global uncertainty, as Iran targets U.S. bases and strategic energy infrastructure across the Gulf.
Turkey has reintroduced the “sliding scale mechanism” to prevent dramatic pump hikes from feeding inflation after the Iranian War pushed global oil prices higher.
In Turkish, zehirlenme or poisoning is one of those words that lands with a sting. Its genealogy stretches back through Ottoman Turkish to Persian zahr (poison), but the word has given birth to colorful idioms: zehir saçmak (to scatter venom), zehir zemberek sözler (barbed words that blister on impact), ağzı zehir gibi (a tongue sharp enough to wound).
The CAATSA sanctions imposed by the U.S. for the past six years have also negatively impacted Turkey's aircraft carrier projects.Originally designed to deploy F-35Bs, the first ship named TCG Anadolu was converted into an unmanned aerial vehicle carrier when aircraft could not be procured from the U.S.
Donald Trump’s “Liberation Day” tariffs continue to shake the global economy and wreak havoc. Although President Trump announced a 90-day pause for most countries on April 9, letting markets soar after days of economic turmoil, he decided to hit China with further tariffs of an unprecedented 125%. There is no question that this will deepen the trade war with China. Regardless of the tariff pause, all major countries are still reflecting on worst-case scenarios. It is highly disputable whether President Trump will achieve his declared goal of striking fair and balanced trade deals with America’s partners. Let us hope that common sense will prevail and tariffs will be mutually lowered to reasonable levels through negotiations. However, given President Trump’s dithering, there is nothing but turmoil and chaos to be expected on the horizon.