Trump tweets that he is INCREASING tariffs on Turkey which have already sent its currency into free fall amid crisis over detention of U.S. preacher
President Recep Tayyip Erdogan calls currency crisis a ‘national battle’
President is urging Turks to exchange gold and hard currency into lira
Lira plunged as much as 14 per cent Friday, and hit a record low against dollar
Trump then hit Turkey with higher tariffs on imports, imposing a 20 percent duty on aluminum and 50 percent one on steel
He celebrated the lira’s demise and noted that relations with Turkey ‘are not good at this time’
Last week, the United States imposed sanctions on Turkey’s justice minister and interior minister for not releasing pastor Andrew Brunson
By FRANCESCA CHAMBERS
DAILYMAIL.COM
10 August 2018
President Donald Trump said on Friday he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel, as tensions mount between the two NATO allies over Ankara’s detention of an evangelical pastor and other diplomatic issues.
‘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!’ Trump said in an early morning post on Twitter.
‘Aluminum will now be 20 percent and Steel 50 percent. Our relations with Turkey are not good at this time!’
In a statement the White House clarified that Trump had authorized the preparation of documents to raise steel and aluminum tariffs through his authority under Section 232 of U.S. trade law. It did not say when the tariffs would take effect.
Last week, the United States imposed sanctions on Turkey’s justice minister and interior minister for refusing to release American pastor Andrew Brunson, who’s been in custody since 2016 on charges of terrorism and espionage that Washington says are bogus.
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