Turkey increases tariffs on some US goods, escalating feud
Associated PressANKARA, 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 said Turkey would boycott U.S. electronic goods, singling out iPhones. Although preference for Apple products is strong, their already high prices are curbing demand, Yavuz said adding that the boycott “is expected to reduce Apple’s performance in the country in the upcoming quarters.” Attention will turn Thursday to an address by the finance minister to foreign investors for clues on any change in economic policy. Investors are looking for substantive economic policy changes by Erdogan — namely the acceptance of higher interest rates — whereas the president has so far reacted mainly by blaming foreign powers, particularly the United States, which he says is waging an “economic war.” Washington has imposed financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey, as Trump tries to secure the release of Andrew Brunson, a 50-year-old American pastor being tried in Turkey on espionage and terrorism-related charges.
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