Turkey doubles tariffs on key United States goods as spat intensifies

16 August, 2018, 13:15 | Author: Brooke Harris
  • Turkey issues sharp tariffs on US imports

Press secretary Sarah Huckabee Sanders also criticized Turkey's move to impose tariffs on some USA goods as "regrettable and a step in the wrong direction".

The rebound of around 6pc yesterday, briefly strengthening to less than 6.0 against the dollar, came after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency.

"Qatar has pledged $15 billion of direct investments in Turkey", presidential spokesman Kalin wrote on Twitter afterwards.

Ankara's latest move follows President TrumpDonald John TrumpDems make history, and other takeaways from Tuesday's primaries Pawlenty loses comeback bid in Minnesota Establishment-backed Vukmir wins Wisconsin GOP Senate primary MORE's announcement last week that he will double tariffs on imports of steel and aluminum from Turkey until it releases USA pastor Andrew Brunson, who was arrested in 2016.

State television TRT reported the 2nd Penal Court in İzmir rejected the appeal on August 15 and sent the defendant's petition to an upper court.

Analysts question the effectiveness of any Turkish boycott of USA goods and view Turkey's tit-for-tat taxes - imposed Wednesday on American exports, including cars, tobacco and alcohol - as mostly symbolic because they have relatively little value to a global trade giant engaged in similar disputes with China and other major economies. "Turkey would do well not to test @POTUS Trump's resolve to see Americans who are wrongfully imprisoned in foreign lands returned home to the United States", Vice President Mike Pence said in a tweet.

The White House called the Turkish response a step in the wrong direction and signalled a hard line on Brunson's release.

The hikes were published in Turkey s Official Gazette in a decree signed by President Recep Tayyip Erdogan, who has repeatedly described the crisis as an "economic war" that Turkey will win.

Optimism about better relations with the European Union after a Turkish court released two Greek soldiers pending trial and a banking watchdog's step to limit foreign exchange swap transactions have also helped the lira.

Russia Says U.S. Demand For Chemical Inspectors 'Hypocritical'
Just last week, the U.S. imposed new sanctions on Russia in response to the poisoning of a former Russian spy on British soil. The United States also seeks to contain Moscow's energy sector, which the Russian economy heavily depends on.

The lira had nosedived in recent weeks, hitting 7.24 last week, amid a diplomatic and trade dispute with the United States.

The International Currency Exchange (ICE) says it has ran out of Turkish Lira Tuesday as an unprecedented number of Britons travel to Turkey to make the most of the weak Lira.

A decree by Erdogan earlier in the day doubled Turkish tariffs on imports of USA passenger cars to 120%, alcoholic drinks to 140% and leaf tobacco to 60%.

Brunson, a North Carolina native, was the pastor of a Presbyterian church in Turkey. And while many global economists peg the currency's troubles to a combination of debt, inflation and Erdogan's vow to reject raising interest rates - a typical solution to these problems - Erdogan himself has found a ready villain: the U.S. In another high-profile case, a Turkish court freed Taner Kilic, the local chair of Amnesty International, a researcher from the rights group said.

Last week Trump said he was doubling tariffs on metal imports.

Turkey said Wednesday it was imposing extra tariffs on imports of products, including rice, vehicles, alcohol, coal and cosmetics.

The duties were raised in response to the United States administration's "deliberate attacks on our economy", Vice President Fuat Oktay said.

On Wednesday, a court in Izmir, where Brunson is on trial, rejected his appeal to be released from house arrest. "Our relations with Turkey are not good at this time!"



Liga announces free-to-air deal with Facebook in India
The deal will allow hundreds of millions of south Asian users to watch top-tier Spanish football matches for free. But it turned out to be a blessing in disguise as Facebook will stream all 380 La Liga matches this season.

Akshay Kumar taught me to be a producer's actor: Mouni Roy
Gold also stars Kunal Kapoor , Vineet Kumar Singh, Sunny Kaushal, Amit Sadh , Dalip Tahil, Nikita Dutta and Jatin Sarna. I couldn't believe it for the longest time. "The event happened 70 years ago, but it feels like only yesterday".

Contestant On Trump-Omarosa Dating Show 'The Ultimate Merger' Spills The Beans
The dispute with Manigault Newman and the recent dust-up with James made him even more unpopular with African-Americans. Mr Trump ratcheted up his rhetoric against Manigault Newman on Tuesday. "I don't know who signed them".

Pound US Dollar (GBP/USD) Exchange Rate Restrained by Global Unease
The Q2 growth projections met forecasts, but June's monthly growth figure fell short of expectations with a result of 0.1%. Most investors still expect Britain to secure a trade deal with the European Union , but the risk of no deal is rising.

With gun salutes, Pakistan marks 71 years of independence
Among the most poignant ones was the tweet by former Pakistan cricket team captain Shahid Afridi from across the Wagah Border. Pakistan Rangers officials at the Wagah border crossing exchanged candies with Indian Border Security Force personnel.

Subtropical Storm Storm Ernesto forms in Atlantic
Also, subtropical storms are cold-core weather systems, while tropical storms and hurricanes are warm-core. Ernesto was about 695 miles east of Cape Race, Newfoundland - or well over 2,000 miles from South Florida.

Troubled Paul Pogba has his heart set on forcing transfer to Barcelona
In his first season, under former boss Louis van Gaal, he made 16 league appearances - his most at Old Trafford during a single league campaign.

Melania tried to calm Trump down before Omarosa tirade
The strangest part according to the former White House employee was that it seemed commonplace to Ivanka. He said Manigault Newman had called him "a true champion of civil rights" until she was sacked .

Stephen King has strong words following Trump's tweet about Omarosa
The TV star has also revealed her insight on why Melania Trump wore that infamous "I don't care, do u?" jacket. Manigault Newman is being accused of breaching the Trump campaign's confidentiality agreement from 2016.

White House Aides Are Claiming Trump ‘Doesn’t Get’ Time Zones
A former national security official told Politico that Trump wants to talk to Macron "constantly", sometimes calling him for no particular reason.