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!
Link to article: www.theguardian.com/world/2018/aug/10/turkeys-economic-crisis-deepens-as-trump-doubles-tariffs
-
China’s manufacturing activity hits six-month high
-
Trump doubles Turkish tariffs as lira plunges to record lows – business live
-
Eight things you can expect in Wednesday’s budget
-
Why the Federal Reserve must taper quantitative easing before Christmas
-
Bono interview: ‘There’s a difference between cosying up to power and being close to power’
Leave a Reply