US President Donald Trump on Friday stepped up his standoff with Turkey by imposing higher tariffs on metal imports, putting unprecedented economic pressure on a NATO ally and deepening turmoil in Turkey's financial markets.
Criticizing the state of U.S. relations with Ankara, Trump announced on Twitter that he had authorized a doubling of the duty on aluminum and steel imported from Turkey, to 20 percent and 50 percent, respectively.
The White House said Trump would use a section of US law that allows tariffs to be set based on threats to national security to impose increased tariffs.
The Trump move has sent the Turkish lira currency deeper into a tailspin. The lira, which has long raised concerns about the government's influence on monetary policy and US tensions, fell more than 18 percent on Friday to a record low against the dollar.
Trump announces Turkey double duty on aluminum and steel
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Azovpromstal® 11 August 2018 г. 11:20 |
