Turkey doubles tariffs on some US goods amid rising tensions
Al JazeeraCars, tobacco, and alcohol hit with new tariffs in response to what vice president calls ‘US attacks’ on the economy. Turkey doubled tariffs on some imports from the United States – such as passenger cars, alcohol and tobacco – in what it said was retaliation for “deliberate attacks” on its economy. A decree published in Turkey’s official gazette and signed by Turkish President Recep Tayyip Erdogan doubled the tariffs on passenger cars to 120 percent, on alcoholic drinks to 140 percent, and on tobacco to 60 percent. “The import duties were increased on some products, under the principle of reciprocity, in response to the US administration’s deliberate attacks on our economy,” Turkey’s Vice President Fuat Oktay wrote in a Twitter post. They are killing offshore lira liquidity to stop foreigners shorting the lira.” Tit-for-tat The crisis came days after US President Donald Trump announced a doubling of steel and aluminium tariffs on Turkey, as Washington pushes Ankara to release Evangelical Christian pastor Andrew Brunson, who is being held on terrorism charges for nearly two years.
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