Turkey’s economic crisis deepens as Trump doubles tariffs

US president tweets: ‘Our relations with Turkey are not good at this time!’

Turkey’s unfolding economic crisis has deepened further after Donald Trump announced a doubling of US import tariffs on Turkish steel and aluminium, deepening the country’s currency freefall and rattling financial markets.

The Turkish lira plunged by more than 17% against the dollar after the president announced the move, amid a widening dispute between Washington and Ankara over the imprisonment of the US pastor Andrew Brunson.

I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!

Continue reading…

Link to article: www.theguardian.com/world/2018/aug/10/turkeys-economic-crisis-deepens-as-trump-doubles-tariffs

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.