Turkey Counterpunches By Raising Tariffs On U.S. Goods
6 years, 5 months ago

Turkey Counterpunches By Raising Tariffs On U.S. Goods

NPR  

Turkey Counterpunches By Raising Tariffs On U.S. Goods Enlarge this image toggle caption Burhan Ozbilici/AP Burhan Ozbilici/AP Just days after President Trump tweeted his decision to double tariffs on Turkish steel and aluminum, Turkey has announced that it, too, is ratcheting up retaliatory tariffs. The order published in Turkey's official gazette and signed by its strongman president, Recep Tayyip Erdogan, raises tariffs on a wide range of U.S. goods — more than tripling the levies on automobiles, nuts and spirits, and more than doubling them on rice, beauty products and certain types of paper. The U.S. wants American evangelical pastor Andrew Brunson freed and cleared of terrorism-related charges he has faced since 2016, when Turkish authorities arrested him for allegedly aiding a failed coup attempt earlier that year. 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. "You work with us in Afghanistan, Somalia and NATO, and then you go stab your partner in the back," he said earlier this week.

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History of this topic

Turkey lowers taxes on basic foods to fight high inflation
2 years, 11 months ago

Turkey lowers taxes on basic foods to fight high inflation

Associated Press  

ISTANBUL — Turkey’s president announced a significant reduction in taxes on basic food supplies Saturday as the country faces rampant inflation and numerous protests over eroding living standards. The currency has been hovering around 13.5 since that record low after the government instituted a new financial tool to push savers away from buying foreign currencies and encourage them to convert …

‘We don’t deserve this': Inflation hits Turkish people hard
3 years, 1 month ago

‘We don’t deserve this': Inflation hits Turkish people hard

Associated Press  

ISTANBUL — Market-stand owner Kadriye Dogru makes do with stale, sesame-covered bagels, known as simit, for lunch these days. While rising consumer prices are affecting countries worldwide as they bounce back from the coronavirus pandemic, economists say Turkey’s eye-popping inflation has been exacerbated by economic mismanagement, concerns over the country’s financial reserves and President Recep Tayyip Erdogan’s push to cut …

Trump threatens to ‘destroy’ Turkey’s economy with sanctions
5 years, 3 months ago

Trump threatens to ‘destroy’ Turkey’s economy with sanctions

Associated Press  

WASHINGTON — Targeting Turkey’s economy, President Donald Trump announced sanctions aimed at restraining the Turks’ assault against Kurdish fighters and civilians in Syria — an assault Turkey began after Trump announced he was moving U.S. troops out of the way. Trump said the approximately 1,000 U.S. troops who had been partnering with local Kurdish fighters to battle the Islamic State …

Trump orders Turkey sanctions; US scrambles for Syria exit
5 years, 3 months ago

Trump orders Turkey sanctions; US scrambles for Syria exit

Associated Press  

WASHINGTON — Targeting Turkey’s economy, President Donald Trump announced sanctions Monday aimed at restraining the Turks’ assault against Kurdish fighters and civilians in Syria — an assault Turkey began after Trump announced he was moving U.S. troops out of the way. “President Trump communicated to him very clearly that the United States of American wants Turkey to stop the invasion, …

Trump says he will 'obliterate' Turkey's economy if it acts 'off limits'
5 years, 3 months ago

Trump says he will 'obliterate' Turkey's economy if it acts 'off limits'

India TV News  

US President Donald Trump on Monday threatened NATO ally Turkey with totally obliterating its economy if it went "off limits" on Syria, hours after the White House announced the withdrawal of the US troops from Syria's northern border. "They must, with Europe and others, watch over the captured ISIS fighters and families," he said after the White House announced that …

Trump threatens to ‘obliterate’ Turkey’s economy if they do anything ‘off limits’ with ISIS
5 years, 3 months ago

Trump threatens to ‘obliterate’ Turkey’s economy if they do anything ‘off limits’ with ISIS

CNN  

Washington CNN — President Donald Trump threatened to “obliterate” Turkey’s economy if the country does anything he considers to be off limits pertaining to ISIS, as the country prepares to execute an operation without US support in northern Syria. According to the White House, the two discussed the execution of a long-planned operation in Northern Syria which will not be …

Trump threatens to ‘obliterate’ Turkey’s economy over Syria
5 years, 3 months ago

Trump threatens to ‘obliterate’ Turkey’s economy over Syria

Al Jazeera  

US president says Turkey’s economy will pay the price if Ankara takes ‘off-limits’ actions in Syria. US President Donald Trump on Monday threatened to “totally destroy and obliterate” the Turkish economy if Ankara took any action he considered “off-limits” following his decision to withdraw US forces from northeastern Syria. 190804171402767 Turkey previously warned it would carry out military operations east …

US unlikely to impose sanctions on Turkey over Russian buy: Turkish official
5 years, 3 months ago

US unlikely to impose sanctions on Turkey over Russian buy: Turkish official

India Today  

US President Donald Trump has become more understanding about why Turkey has purchased a Russian missile defence system and he is not expected to impose US sanctions on Ankara over the issue, a senior Turkish official said on Wednesday. Last week, US Treasury Secretary Steven Mnuchin said the Trump administration was considering imposing sanctions related to Turkey's purchase of the …

Andrew Brunson row: Recep Tayyip Erdogan says Turkey won't be cowed by US sanctions as lira dips drastically
6 years, 4 months ago

Andrew Brunson row: Recep Tayyip Erdogan says Turkey won't be cowed by US sanctions as lira dips drastically

Firstpost  

President Recep Tayyip Erdogan said that Turkey will not be cowed by the US over the Andrew Brunson row Ankara: Turkish President Recep Tayyip Erdogan declared Saturday that his country would not be cowed by the US, his latest broadside in the bitter feud between Ankara and Washington. The two North Atlantic Treaty Organisation members are at odds over Turkey’s …

Turkey increases tariffs on some US goods, escalating feud
6 years, 5 months ago

Turkey increases tariffs on some US goods, escalating feud

Associated Press  

ANKARA, Turkey — Turkey said Wednesday it is increasing tariffs on some U.S. products like cars, alcohol, and coal — a move that is unlikely to have much economic impact but highlights the deteriorating relations with the U.S. in a feud that has already helped trigger a currency crisis. The tariffs also come a day after President Recep Tayyip Erdogan …

Turkey doubles tariffs on some US goods amid rising tensions
6 years, 5 months ago

Turkey doubles tariffs on some US goods amid rising tensions

Al Jazeera  

Cars, 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 …

Turkey’s Erdogan vows US boycott, but diplomats resume talks
6 years, 5 months ago

Turkey’s Erdogan vows US boycott, but diplomats resume talks

Associated Press  

ANKARA, Turkey — Turkey’s president appeared to escalate a dispute with the United States that has helped foment a Turkish currency crisis, claiming Tuesday that his country will boycott U.S.-made electronic goods. Investors are worried not only about Turkey’s souring relations with the U.S., a longtime NATO ally, but also Erdogan’s economic policies and the country’s high debt accumulated in …

Turkey currency crisis: Tayyip Erdogan says Ankara to boycott US electronic goods in retaliation for Washington sanctions
6 years, 5 months ago

Turkey currency crisis: Tayyip Erdogan says Ankara to boycott US electronic goods in retaliation for Washington sanctions

Firstpost  

President Tayyip Erdogan said on Tuesday Turkey will boycott electronic products from the United States, retaliating in a dispute with Washington that has helped drive the lira to record lows. Istanbul: President Tayyip Erdogan said on Tuesday Turkey will boycott electronic products from the United States, retaliating in a dispute with Washington that has helped drive the lira to record …

Turkey crisis: Erdogan vows to boycott US electronics
6 years, 5 months ago

Turkey crisis: Erdogan vows to boycott US electronics

Al Jazeera  

Lira recovers slightly against the dollar but Turkish president fires a new volley at the US over electronics imports. “He’s making it much worse.” Russian Foreign Minister Sergei Lavrov said the events are a sign the dollar is becoming obsolete as the global trade currency. “I’m confident that the grave abuse of the role of the US dollar as a …

Tourists flock to luxury stores in Turkey to snap up bargains after lira sinks to a record low
6 years, 5 months ago

Tourists flock to luxury stores in Turkey to snap up bargains after lira sinks to a record low

ABC  

Visitors to Turkey have flocked to its high-end shops to treat themselves to bargain luxury goods, their purchasing power buoyed by a currency crisis as the country's lira sank to a record low beyond 7 per dollar. Key points: The lira has lost more than 40 per cent against the dollar this year President Tayyip Erdogan said the US sanctions …

Turkey’s president: US waging “economic war” against Turkey
6 years, 5 months ago

Turkey’s president: US waging “economic war” against Turkey

Associated Press  

ISTANBUL — Turkey’s president on Saturday blamed the country’s economic downturn on the United States and other nations that he claims are waging “war” against his country. Speaking in the northeastern province of Rize, President Recep Tayyip Erdogan said that dollars, euros and gold were now “the bullets, cannonballs and missiles of the economic war being waged against our country.” …

Erdogan: Alliance with US at risk, Turkey target of ‘trade war’
6 years, 5 months ago

Erdogan: Alliance with US at risk, Turkey target of ‘trade war’

Al Jazeera  

Turkish president says his country will not back down to ‘the bullets, cannonballs and missiles of economic wars’. Speaking on Saturday in the northeastern Turkish province of Rize, President Recep Tayyip Erdogan said the US would pay a price by challenging Turkey for the sake of “petty calculations”, denouncing Washington for declaring “economic war on the entire world” and holding …

Donald Trump doubles Turkey tariffs 'against World Trade Organisation rules'
6 years, 5 months ago

Donald Trump doubles Turkey tariffs 'against World Trade Organisation rules'

ABC  

Turkey says doubled tariffs on Turkish steel and aluminium announced by US President Donald Trump are against the rules of the World Trade Organisation. 'Their currency slides rapidly downward' The Turkish lira dropped as much as 18 per cent at one point after Mr Trump's announcement — the biggest one-day fall since a 2001 financial crisis in the country. No …

Turkish president accuses U.S. of waging ‘economic war’ against his nation
6 years, 5 months ago

Turkish president accuses U.S. of waging ‘economic war’ against his nation

LA Times  

Turkey’s president on Saturday blamed the country’s economic downturn on the United States and other nations that he claims are waging “war” against his country. Speaking in the northeastern province of Rize, President Recep Tayyip Erdogan said that dollars, euros and gold were now “the bullets, cannonballs and missiles of the economic war being waged against our country.” Erdogan promised …

Erdogan says Turkey economy under attack as Trump doubles tariffs
6 years, 5 months ago

Erdogan says Turkey economy under attack as Trump doubles tariffs

Al Jazeera  

After Turkish president urges people to support currency, US counterpart adds pressure with doubling of metals’ tariffs. Trump’s announcement on Friday came hours after Turkish President Recep Tayyip Erdogan lashed out against a shadowy international “interest rate lobby” which, he suggested, was “campaigning” to harm Turkey’s economy, after the lira fell more than 14 percent overnight. “Turkey expects other member …

Turkey hits US with retaliatory tariffs
6 years, 6 months ago

Turkey hits US with retaliatory tariffs

India TV News  

Turkey on Thursday became the latest country to hit back at the US for its tariffs on steel and aluminium. Turkey's Ministry of Economy said that it was imposing tariffs worth $267 million on US goods, targeting items like coal, paper, walnuts, tobacco, rice, whiskey and cars after negotiations with Washington failed to yield meaningful progress, CNN reported. "Turkey is …

Turkey ready to impose tariffs on US imports as a retaliatory deed, says Foreign Minister Mevlut Cavusoglu
6 years, 7 months ago

Turkey ready to impose tariffs on US imports as a retaliatory deed, says Foreign Minister Mevlut Cavusoglu

Firstpost  

Turkish Foreign Minister Mevlut Cavusoglu said that Ankara was ready to impose retaliatory tariffs on US imports from 21 June, Ankara: Turkish Foreign Minister Mevlut Cavusoglu said that Ankara was ready to impose retaliatory tariffs on US imports from 21 June, after Washington’s steel and aluminium tariffs. A total of 266.5 US million dollars in additional duties will be charged …

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