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!— Donald J. Trump (@realDonaldTrump) August 10, 2018
The Guardian: 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.
Pressure has been applied on the country in recent days to stage an emergency interest rate rise to avert further economic damage.
Read more ....
WNU Editor: These tariffs are going to hit Turkey hard. Turkey is already experiencing hard economic times from Erdogan's economic and financial policies, this is just another nail in the Turkish economy.
More News On President Trump Ordering Tariffs On Turkish Steel And Aluminum
Trump doubles metal tariffs on Turkey as lira falls by 20% -- BBC
Trump escalates feud with Turkey, imposing higher metals tariffs -- Reuters
Trump increases pressure on Turkey amid currency crisis, authorizes doubling of metals tariffs -- CNBC
Trump announces 'doubling' of tariffs on steel, aluminum from Turkey -- AFP
Higher US tariffs increase pressure on Turkish economy -- DW
Trump OKs stiffer tariffs on Turkey as lira plummets -- UPI
Trump doubles tariffs on Turkey -- The Hill
Trump Authorizes Doubling Tariffs on Steel and Aluminum Imports From Turkey -- Sputnik
