Pusula Yat\u0131r\u0131m'\u0131n de\u011ferlendirmesinde, ABD Y\u00fcksek Mahkemesi'nin 20 \u015eubat 2026'da Trump'\u0131n IEEPA yetkilerine dayanan g\u00fcmr\u00fck vergilerini anayasaya ayk\u0131r\u0131 bulmas\u0131n\u0131n k\u00fcresel piyasalarda ge\u00e7ici bir iyimserlik yaratsa da bu durumun ticaret sava\u015flar\u0131n\u0131n sona ermesinden ziyade sadece bir “stratejik cephanelik de\u011fi\u015fikli\u011fi” niteli\u011fi ta\u015f\u0131d\u0131\u011f\u0131 belirtildi. De\u011ferlendirmede ayr\u0131ca \u015fu bilgilere yer verildi:<\/p>\n
“B\u00fct\u00e7ede olu\u015fan devasa mali bo\u015flu\u011fu kapatmak isteyen Trump y\u00f6netimi, mahkeme karar\u0131n\u0131n hemen ard\u0131ndan 1974 Ticaret Yasas\u0131'n\u0131n 122. Maddesi'ne s\u0131\u011f\u0131narak \u00c7in, Meksika ve Almanya gibi \u00fclkeleri hedef alan y\u00fczde 15'luk yeni bir ge\u00e7ici k\u00fcresel tarife dalgas\u0131 ba\u015flatt\u0131. ABD'yi 1941'den bu yana g\u00f6r\u00fclmemi\u015f bir korumac\u0131l\u0131k seviyesine ta\u015f\u0131yan bu yeni hamle; enflasyonu tetikleme, faiz indirimlerini rafa kald\u0131rma ve GSY\u0130H'yi daraltma risklerinin yan\u0131 s\u0131ra, d\u00fc\u015f\u00fck gelirli haneleri oransal olarak zenginlerden \u00fc\u00e7 kat daha fazla etkileyen regresif bir vergi y\u00fck\u00fc yaratarak toplumsal ve sekt\u00f6rel kutupla\u015fmay\u0131 derinle\u015ftiriyor.<\/p>\n
ABD\u2019de aral\u0131k ay\u0131 ki\u015fisel t\u00fcketim harcamalar\u0131 piyasa beklentilerinin bir miktar \u00fczerinde gelerek, Fed\u2019in faiz indirim takvimine dair umutlar\u0131 yaz aylar\u0131na \u00f6telemi\u015f g\u00f6r\u00fcn\u00fcyor. \u00d6zellikle g\u0131da ve enerjiyi d\u0131\u015far\u0131da b\u0131rakan \u00e7ekirdek PCE enflasyonunun ayl\u0131k bazda y\u00fczde 0,4 art\u0131\u015fla y\u0131ll\u0131k y\u00fczde 3,0 seviyesine t\u0131rmanmas\u0131, fiyat bask\u0131lar\u0131n\u0131n kal\u0131c\u0131l\u0131\u011f\u0131n\u0131 korudu\u011funu ve dezenflasyon s\u00fcrecinin beklenenden daha sanc\u0131l\u0131 ge\u00e7ebilece\u011fini kan\u0131tl\u0131yor. Ocak ay\u0131na dair ilk sinyallerin de benzer bir y\u00fckseli\u015f trendine i\u015faret etmesiyle birlikte, piyasalar merkez bankas\u0131ndan Haziran \u00f6ncesinde bir faiz hamlesi gelme ihtimalini zay\u0131f g\u00f6rmeye ba\u015flarken; t\u00fcketici harcamalar\u0131ndaki reel art\u0131\u015f\u0131n s\u0131n\u0131rl\u0131 kalmas\u0131, ABD ekonomisinin 2026'n\u0131n ilk \u00e7eyre\u011fine girerken daha yava\u015f ve temkinli bir b\u00fcy\u00fcme rotas\u0131na oturdu\u011funu g\u00f6steriyor.<\/p>\n
S&P Global'\u0131n \u015eubat 2026 \u00f6nc\u00fc verilerine g\u00f6re ABD ekonomisi y\u00fcksek fiyatlar, yeni g\u00fcmr\u00fck vergileri ve elveri\u015fsiz hava ko\u015fullar\u0131n\u0131n birle\u015fmesiyle son on ay\u0131n en zay\u0131f b\u00fcy\u00fcme performans\u0131n\u0131 sergiliyor. Hem hizmet hem de imalat sekt\u00f6rlerinde geni\u015flemenin yava\u015flad\u0131\u011f\u0131na i\u015faret eden bile\u015fik PMI verileri, y\u0131ll\u0131k GSY\u0130H art\u0131\u015f\u0131n\u0131n y\u00fczde 1,5 seviyelerine gerileyebilece\u011fi sinyalini verirken, girdi maliyetlerindeki sert y\u00fckseli\u015fin sat\u0131\u015f fiyatlar\u0131n\u0131 son yedi ay\u0131n en y\u00fcksek seviyesine ta\u015f\u0131mas\u0131 enflasyonist bask\u0131lar\u0131n s\u00fcrd\u00fc\u011f\u00fcn\u00fc kan\u0131tl\u0131yor. \u0130stihdam art\u0131\u015f\u0131n\u0131n durma noktas\u0131na geldi\u011fi ve tedarik zincirlerinde \u00f6zellikle tarifeler kaynakl\u0131 aksamalar\u0131n ya\u015fand\u0131\u011f\u0131 bu d\u00f6nemde, i\u015fletmelerin gelecek y\u0131la dair iyimserli\u011fi artsa da siyasi belirsizlikler ve korumac\u0131 ticaret politikalar\u0131 b\u00fcy\u00fcme \u00fczerindeki temel risk fakt\u00f6rleri olarak kalmaya devam ediyor.<\/p>\n
Almanya \u00f6zel sekt\u00f6r\u00fc, \u015eubat 2026 verilerine g\u00f6re hem imalat hem de hizmet alan\u0131nda ivme kazanarak son d\u00f6rt ay\u0131n en g\u00fc\u00e7l\u00fc performans\u0131n\u0131 sergiliyor. \u00d6zellikle imalat sekt\u00f6r\u00fcn\u00fcn \u00fc\u00e7 bu\u00e7uk y\u0131l\u0131 a\u015fk\u0131n bir aradan sonra yeniden b\u00fcy\u00fcme e\u015fi\u011fini a\u015farak 50,7 seviyesine y\u00fckselmesi, Alman ekonomisi i\u00e7in beklenen toparlanman\u0131n somut bir g\u00f6stergesi olarak kabul ediliyor. \u0130\u00e7 ve d\u0131\u015f talebin canlanmas\u0131yla yeni sipari\u015flerde son y\u0131llar\u0131n en belirgin art\u0131\u015flar\u0131 ya\u015fan\u0131rken; enerji fiyatlar\u0131 ve i\u015f g\u00fcc\u00fc maliyetlerindeki y\u00fckseli\u015fin kar marjlar\u0131n\u0131 zorlamas\u0131na ra\u011fmen sanayicilerin gelecek y\u0131la dair iyimserli\u011fi d\u00f6rt y\u0131l\u0131n zirvesine \u00e7\u0131km\u0131\u015f durumda. Bu olumlu tablo, y\u0131l\u0131n ilk \u00e7eyre\u011finde hissedilir bir ekonomik canlanman\u0131n ger\u00e7ekle\u015fece\u011fine ve 2026 genelinde GSY\u0130H art\u0131\u015f\u0131n\u0131n y\u00fczde 1 baraj\u0131n\u0131 a\u015faca\u011f\u0131na dair beklentileri kuvvetlendiriyor.”<\/p>\n
<\/strong> \u0130stanbul, 23 \u015eubat (Hibya) – Pusula Yat\u0131r\u0131m, ABD’nin g\u00fcmr\u00fck vergilerinin anayasaya ayk\u0131r\u0131 bulundu\u011funu duyurdu.<\/p>\n","protected":false},"author":1,"featured_media":51263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[12,4,1],"tags":[],"class_list":["post-51262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spor","category-dunya","category-ekonomi"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/51262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=51262"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/51262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/51263"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=51262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=51262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=51262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"