Trump Doubles Tariffs On Turkish Steel, Aluminum, Says Relations ‘Not Good’

Trump Doubles Tariffs On Turkish Steel, Aluminum, Says Relations ‘Not Good’

Meanwhile, Ankara announced its rejection of the resolution, insisting it would reciprocate. The entire Turkish public is against US policies that disregard Turkey's legitimate security demands. Turkey is the sixth-largest steel exporter to the United States. "We will continue producing".

"The real losers of decisions taken by the USA administration are producers, private sector, and exporters of both countries", the statement concluded.

U.S. President Donald Trump intensified his spat with Turkey on Friday by imposing higher tariffs on metal imports, putting unprecedented economic pressure on a North Atlantic Treaty Organisation ally and deepening turmoil in Turkish financial markets.

Aluminum will now be 20% and Steel 50%. Lindsay Graham of SC, said Trump's decision was retaliation against Turkey for not releasing Brunson.

Internal political turmoil, soaring inflation and a burgeoning conflict with Trump over a jailed American pastor combined to destroy confidence in the Turkish lira, which lost 20 percent of its value against the dollar at one point Friday, dropping it to a record low.

Tony Perkins, president of the Family Research Council, praised Trump's decision to strike a tougher tone with Turkey and drew a connection between the higher tariffs and the treatment of Brunson.

Foreign Ministry Spokesperson Hami Aksoy also said in a statement that Turkey wanted issues to be solved through diplomacy, dialogue, good intentions and bilateral understanding. The U.S. imported about 4,500 tons of aluminum bars, rods and profiles from the country in 2017, according to World Bank statistics.

PHOTO: Andrew Brunson, an American pastor, living in Izmir, Turkey.

The United States imposed sanctions on two Turkish officials earlier this month over a detained American pastor who is being tried on espionage and terror-related charges.

Tiger Woods hangs in there at the turn in the PGA Championship
He missed four months at the start of the year when a partially torn tendon in his left wrist, causing him to sit out the Masters. He was at 3-over par for the second round through nine holes and 4 over for the tournament, putting him in a tie for 111th.

Russian President Vladimir Putin discussed economic and trade ties by phone with his Turkish counterpart Tayyip Erdogan on Friday, the Kremlin said in a statement.

The lira tumbled about 10 percent on Friday to another record low as investors worry about Erdogan's unorthodox economic policies and US sanctions.

Erdogan on Thursday portrayed the run on his currency as a "campaign" to harm Turkey and called on people not to worry.

As with the financial crisis set off by Greece in 2010, Friday's events were the latest example of how troubles in a nation with a midsize economy but world-class problems could threaten financial stability further afield.

The currency's drop - 41 percent so far this year - is a gauge of fear over a country coming to terms with years of high debt, global concern over President Recep Tayyip Erdogan's push to amass power, and a souring in relations with allies like the U.S.

The Financial Times added to concerns with a report that the European Central Bank was anxious about possible losses at eurozone banks operating in Turkey. The Stoxx Europe 600 finished down 1.1 percent pushing the index about 0.9 percent lower for the year.

"The independence of the central bank is extremely critical for our economy", said the minister.

"One of our principles will be ensuring the full independence of monetary policy", Abayrak said as he outlined his ministry's "new economic model".

Related Articles

  • English Premier League: Things to watch in Liverpool’s 2018-19 season

    English Premier League: Things to watch in Liverpool’s 2018-19 season

    That is why so many are talking about them. "He looked decent at times for Arsenal , didn't really get a chance". Liverpool prioritised the Champions League last season after securing a top-four finish.
    Manchester United Star Lands Huge Blow On Jose Mourinho

    Manchester United Star Lands Huge Blow On Jose Mourinho

    FC's Paul Mariner feels it'll be no love lost after Man United missed out on signing Bayern Munich defender Jerome Boateng. Here's where United stand on their various defensive candidates with less than 24 hours to the deadline.
    Russian Embassy trolls Trump campaign with its own Space Force logo

    Russian Embassy trolls Trump campaign with its own Space Force logo

    The Space Force would initially draw experts from existing space and military program in becoming the sixth branch of the U.S. Given the stakes about building a new branch of the military, the issue is likely to be a political football.
  • Dying man awarded $396m after jury rules weed killer gave him cancer

    Dying man awarded $396m after jury rules weed killer gave him cancer

    Glyphosate is the most common weedkiller in the world, and the safety of its use has been a topic of hot debate for some years. About 80 percent of his body is now covered in lesions, CNN reported, and his doctors said he is unlikely to live past 2020.
    Huddersfield 0-3 Chelsea: Premier League highlights and recap

    Huddersfield 0-3 Chelsea: Premier League highlights and recap

    This is after we sacrificed our greatest ever goalkeeper to accommodate him. But I think we did have a lot of unlucky situations.
    Return your Dolphins tickets, Broward police union tells members

    Return your Dolphins tickets, Broward police union tells members

    The Palm Beach County Police Benevolent Association issued a Facebook statement on tickets. It's unclear how the NFL will actually handle national anthem protests this year.
  • Wrong of U.S.  to threaten Turkey, says Erdogan

    Wrong of U.S. to threaten Turkey, says Erdogan

    Erdogan is also upset at the protection USA coalition forces are providing the Kurds in Syria , against the invading Turkish army. Trump's administration has made the welfare of American Christian preachers across the world a priority of its foreign policy.
    Tiemoue Bakayoko linked with loan move to AC Milan

    Tiemoue Bakayoko linked with loan move to AC Milan

    He signed Jorginho from Napoli in a five year deal valued around €57 million, while Mateo Kovacic joined on loan from Real Madrid. Tiemoue Bakayoko has reportedly agreed personal terms over a loan move to AC Milan .

    Meteor shower of the year coming up

    If you intend to watch the Perseid Meteor Shower this year, be sure to watch between midnight and dawn . There's a unique opportunity to watch what may look like shooting stars putting on a show this weekend.
  • English Premier League Report: Liverpool v West Ham United 12 August 2018

    English Premier League Report: Liverpool v West Ham United 12 August 2018

    Liverpool kick-off their Premier League campaign on Sunday afternoon, as they welcome West Ham United to Anfield . West Ham offered little as the hosts dominated, but Klopp was reluctant to decribe the performance as flawless .
    Nasa probe blasts off to the Sun after 60-year project

    Nasa probe blasts off to the Sun after 60-year project

    Liftoff took place from Space Launch Complex 37 at Cape Canaveral Air Force Station in the USA early on Sunday. Sensors on the spacecraft will make certain the heat shield faces the sun at the right times.
    Donald Trump Condemns Racism on Anniversary of Charlottesville Riots

    Donald Trump Condemns Racism on Anniversary of Charlottesville Riots

    The "riots" - a blob without definition - did not "result" in " death and division" - two more blobs with no definition. Northam declared a state of emergency in advance, allowing Charlottesville to have a heavy police presence.