Erdogan removes gloves: Turkey has doubled customs on products from the US
Five days after Trump announced the doubling of customs duties on Turkish aluminum and steel, the response came. According to state media, Erdogan's government raises the tax on alcoholic beverages from the United States to 140 percent, cars to 120 percent, and tobacco to 60 percent, and tariffs on rice, coal and cosmetics will rise.
Calcalist Service 12: 2215.08.18
Tags: Turkey Turkish Lira Cover Donald Trump Recep Tayyip Erdogan USA
The Turkish government announced that it had imposed tariffs on cars, alcohol and cigarettes from the United States, while escalating the conflict between the two NATO member states.
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Erdogan against Trump: "Do you have an iPhone? We will buy Samsung"
Europe began to feel the Turkish crisis
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According to the Turkish media, the move doubles tariffs on several American products, including raising the tax on alcoholic beverages to 140 percent, cars to 120 percent, and tobacco to 60 percent.
The latest moves come against the backdrop of the Turkish currency crisis, in which the Turkish lira has fallen more than 40% since the beginning of the year. The Turkish government claims that this is the result of what it calls "economic warfare" on the part of the US, while economists point to Turkey's flawed economic policy, its deepening deficit, and its large debt in foreign hands.
President of Turkey Erdogan Erdogan President Erdogan Photo: Reuters
Covering the rice, cosmetics and coal are also supposed to be doubled, and Turkish President Erdogan called on citizens to boycott US electrical appliances, including Apple's iPhone, for Samsung and local brands.
At the same time, the Turkish lira showed some stabilization against the dollar and traded at 6.0750 against it as of 10:30 am Istanbul time, up from 7.24 pounds to the dollar on Monday.
The Turkish lira began to plunge after the US president announced sanctions and cover Ankara last week following the ongoing incarceration of Evangelical Pastor Andrew Bronson, who has been held in Turkey since 2016 and charged with espionage and involvement in the failed coup that took place that year. They deny.
Trump imposed sanctions this month on Turkish justice and interior ministers, and meetings between the negotiating teams of the two countries failed to reach a diplomatic solution to the situation. The days after this exchange, the Lira lost 30% of its value.
https://www.calcalist.co.il/world/articles/0,7340,L-3744386,00.html
Five days after Trump announced the doubling of customs duties on Turkish aluminum and steel, the response came. According to state media, Erdogan's government raises the tax on alcoholic beverages from the United States to 140 percent, cars to 120 percent, and tobacco to 60 percent, and tariffs on rice, coal and cosmetics will rise.
Calcalist Service 12: 2215.08.18
Tags: Turkey Turkish Lira Cover Donald Trump Recep Tayyip Erdogan USA
The Turkish government announced that it had imposed tariffs on cars, alcohol and cigarettes from the United States, while escalating the conflict between the two NATO member states.
Read more at Calcalist:
Erdogan against Trump: "Do you have an iPhone? We will buy Samsung"
Europe began to feel the Turkish crisis
This channel was also examined: "The Turkish economy was hurt by Pike News"
According to the Turkish media, the move doubles tariffs on several American products, including raising the tax on alcoholic beverages to 140 percent, cars to 120 percent, and tobacco to 60 percent.
The latest moves come against the backdrop of the Turkish currency crisis, in which the Turkish lira has fallen more than 40% since the beginning of the year. The Turkish government claims that this is the result of what it calls "economic warfare" on the part of the US, while economists point to Turkey's flawed economic policy, its deepening deficit, and its large debt in foreign hands.
President of Turkey Erdogan Erdogan President Erdogan Photo: Reuters
Covering the rice, cosmetics and coal are also supposed to be doubled, and Turkish President Erdogan called on citizens to boycott US electrical appliances, including Apple's iPhone, for Samsung and local brands.
At the same time, the Turkish lira showed some stabilization against the dollar and traded at 6.0750 against it as of 10:30 am Istanbul time, up from 7.24 pounds to the dollar on Monday.
The Turkish lira began to plunge after the US president announced sanctions and cover Ankara last week following the ongoing incarceration of Evangelical Pastor Andrew Bronson, who has been held in Turkey since 2016 and charged with espionage and involvement in the failed coup that took place that year. They deny.
Trump imposed sanctions this month on Turkish justice and interior ministers, and meetings between the negotiating teams of the two countries failed to reach a diplomatic solution to the situation. The days after this exchange, the Lira lost 30% of its value.
https://www.calcalist.co.il/world/articles/0,7340,L-3744386,00.html
