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Trump says he’s doubling Turkish tariffs as lira slides … MARKETWATCH August 10, 2018 at 02:15PM

Trump says he’s doubling Turkish tariffs as lira slides … MARKETWATCH

 

Trump says he’s doubling Turkish tariffs as lira slides

BY ANNE KENTAPPE

President Donald Trump said in a tweet Friday he authorized doubling existing tariffs on steel and aluminum imports from Turkey, after the Turkish lira
dropped more than 10%.

Levies on aluminum would be 20% and steel 50%, per the tweet.

Trump previously had called out trade partners’ weak currencies versus the strong greenback, openly favoring a weaker U.S. currency.

U.S.-Turkish relations have been rocky of late over the detention of a U.S. pastor by Turkish authorities. One dollar last bought 6.2826 lira, up 13.3% from Thursday, a fresh historic low, according to FactSet.

 

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