Turkish Vice President Cevdet Yılmaz said on Saturday that the tariffs announced by U.S. President Donald Trump a few days ago are relatively beneficial for Turkey, which is closely monitoring the situation.

Yılmaz added in remarks reported by CNN Türk: "A 10% tariff on Turkey was announced. So far, this tariff works in our favor."

He continued, "Increased tariffs force countries that sell goods to the U.S. market to aggressively enter other markets, and we must be cautious."

Yılmaz further stated, "On the other hand, the prices of essential goods have decreased, so we can speak of a positive impact. We must weigh the pros and cons and continue monitoring the situation. The tariffs announced by Trump are relatively beneficial for Turkey."

"It is quite clear that the world is moving toward protectionism. We are entering an era where every country will defend its own interests," he added.

Last Wednesday, U.S. President Donald Trump announced sweeping tariffs on several countries, including the European Union, imposing a 25% duty on imported cars and 20% on all other imports.