Trump Authorizes Doubling Tariffs on Steel and Aluminum Imports From Turkey - Kogonuso


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Aug 10, 2018

Trump Authorizes Doubling Tariffs on Steel and Aluminum Imports From Turkey

US President Donald Trump said in a statement on Friday that he has doubled the steel and aluminum tariffs already in place against imports from Turkey.

"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%," Trump said in a Twitter message.

Trump added that relations between Turkey and the United States are "not good at this time."

Meanwhile, following Washington's announcement, the exchange rate of the Turkish lira collapsed by more than 16 percent to the US dollar and reached the all-time low.

As of 16.22 Moscow time (13:22 GMT), the dollar rate was up 16.6 percent to the Turkish lira — to 6.46 lira per dollar.

Last Wednesday, the United States announced that it would impose sanctions against Turkish Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu over allegedly having "leading roles" in the imprisonment of US pastor Andrew Brunson as well as in other cases of alleged human rights abuse.

Turkey jailed Brunson two years ago for his alleged ties to the movement founded by Islamic cleric Fethullah Gulen, whom Ankara has accused of orchestrating the 2016 failed military coup. In late July, Brunson was released from a Turkish prison and placed under house arrest.

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