Today, the EU and US are the anchors of the global economy. They represent about half of the global GDP and trade. They also try to establish the largest free trade zone in history via TTIP. It is obvious that TTIP will change the economic structures of both the EU and US, but furthermore the TTIP will impact third parties as well. Against this background, this paper examines the possible impacts of TTIP on Turkey, a country which has been enjoying the Customs Union with the EU although it is not a member. The paper also offers a couple of policy options in front of Turkey on the possible impacts of TTIP.