United States pressures Turkey with extra tax and Iran with compensation negotiations under Trump

Turkey faces a possible 12.5% additional tax as the United States considers imposing at least a 10% tariff on imports from 60 trade partners, placing Turkey among the nations listed for the new levy. OECD data shows Turkish firms already pay a 13.55% effective tax rate on U.S. exports, well above the OECD average of 6.7%. Public hearings on the tax proposal are scheduled for early July, while the Halkbank case between the two countries remains pending.

In parallel, U.S. talks with Iran are stalled over financial compensation. The Trump administration seeks a deal more favorable than the 2015 agreement, which released $1.7 billion to Iran, while Tehran requests $12 billion in immediate funds. U.S. officials worry that early cash releases could weaken leverage, and alternatives such as third‑party funding through Qatar are being explored.