President Donald Trump said on Friday that he has authorised the doubling of steel and aluminium tariffs “with respect to Turkey.”
Trump said via a tweet that the tariff on aluminium imports will be increased to 20 per cent and the tariff on steel imports will be raised to 50 per cent as the Turkish Lira “slides rapidly downward against our very strong Dollar!”
Trump is also declaring that, “Our relations with Turkey are not good at this time!”
The United States slapped sanctions on two Turkish officials earlier this month over a detained American pastor who is being tried on espionage and terror-related charges.
Turkey vowed retaliation “without delay” and warned the move would further harm relations between the two allies. Trump’s tweet caused a further drop in the Turkish currency, which is now down 13 percent on the day.— AP