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Says U.S. relations with Ankara are not good at this time
U.S. President Donald Trump said on Friday that he had doubled steel and aluminium tariffs on Turkey, adding to the pressure on the nation’s troubled economy amid a diplomatic row with Washington.
“I have just authorised a doubling of Tariffs on Steel and Aluminium with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Mr. Trump said on Twitter. “Our relations with Turkey are not good at this time!” His announcement came as Turkey’s embattled lira hit new record lows against the U.S. dollar and euro, losing nearly 9% in value as strains with America showed no sign of abating and fears grew over the exposure of European banks. harmed U.S. companies and the economy. It is unclear how that would justify higher tariffs on Turkey but not other countries. Turkey remains at loggerheads with the U.S. over the detention of American pastor Andrew Brunson and a host of other issues. Mr. Erdogan on Friday called on Turks to support their struggling currency. “We will not lose the economic war,” he said. “If you have dollars, euros or gold under your pillow, go to banks to exchange them for Turkish lira. It is a national fight.”
Source : https://www.thehindu.com/todays-paper/tp-international/trump-doubles-steel-and-aluminium-tariffs-on-turkey/article24661119.ece (GS II International relations)
