Trump taunts Turkey about tariffs via Twitter, mocking the lira’s crisis
On Friday morning, the lira posted its worst weekly decline since 2008, raising the prospect of political upheaval
Washington — US President Donald Trump said he’s authorised doubling some metals tariffs on Turkey, citing poor relations with the Nato ally amid an escalating conflict over its detention of an American pastor. "I have just authorised a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!" Trump tweeted. Trump’s tariff decision followed a defiantly nationalist speech Friday by Turkish President Recep Tayyip Erdogan in which he vowed that his country wouldn’t bow to "economic warfare" and urged the people of Turkey to sell their foreign-exchange reserves. Erdogan was to speak for a second time on Friday, shortly after Trump posted the tweet.
A US deadline for Turkey to release Pastor Andrew Brunson lapsed less than two days ago, according to an administration official with knowledge ...