Turkey doubles tariffs on some USA imports; Turkish lira rallies

15 August, 2018, 17:41 | Author: Regina Silva

On Friday, Turkey's Foreign Ministry said Turkey would retaliate against the raising of steel and aluminum tariffs by the us administration.

Turkish President Recep Tayyip Erdogan has repeatedly described the dispute with the USA with as an "economic war" that Ankara will win.

The call for a boycott appears to be Erdogan's answer to the US decision to double tariffs on Turkish steel and aluminum imports.

On Tuesday, he said Turkey would boycott US electronic products.

In addition, the US has placed sanctions on two Turkish ministers over the arrest of an American pastor who is charged with having links to terrorism.

Turkey has accused the U.S. of waging an "economic war" as part of a plot to harm the country.

"If they have the iPhone, there is Samsung elsewhere". Details of how a boycott of American electronics might be enforced were not presented during Erdogan's speech.

Sergio Ramos takes swipe at Klopp over final comments
Perhaps Klopp will respond, although it is more likely he will brush this off and all will settle.until the teams meet again. But Ramos said: "I have no intention of hurting a player deliberately".


Champions League wrap: Celtic bounced; Benfica, Ajax through
Rodgers said: " Dedryck Boyata is fit, but he's not here with us". "In the main, there weren't too many opportunities against us but you can't concede that easily and unfortunately it's cost us".


James Harden accused of roughing up woman at nightclub
The incident took place in the downtown Scottsdale entertainment district on August 11 at about 2:30 in the morning. Police in Scottsdale confirmed they are investigating an incident that occurred this past weekend at a nightclub.


Erdogan said Turkey is the target of an economic war waged by the United States, calling on citizens to exchange foreign currency and gold for the lira.

Erdogan has called on Turks to exchange their dollars for lira in order to shore up the domestic currency.

The crisis has sent the Turkish currency into free fall since Friday. The declaration comes as a trade war between the United States and Turkey has caused the Turkish currency, the lira, to plummet over the past few days, sending shockwaves throughout global markets.

Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. But world stock traders were dismayed the bank did not raise interest rates, which is what many economists believe is necessary to ease the crisis.

Turkey has agreed to buy S-400 surface-to-air missiles from Russian Federation, an unprecedented move by a North Atlantic Treaty Organisation member, which has raised objections from members of both parties of the U.S. Congress and the Trump administration.

The lira was trading on Wednesday at 6.02 to the dollar, a gain in value on the day of 5.5 percent. But, foreign investors are concerned that the central bank may not act because of political interference.

"We view the policy of sanctions as unlawful and illegitimate, driven mostly by a desire to dominate everywhere and in everything, dictate policies and call shots in worldwide affairs", said Lavrov, predicting "such a policy can't be a basis for normal dialogue and can't last long". But the latest row with the USA also contributed to the lira's plunge.

Recommended:

  • Maryland accepts

    Maryland accepts "legal and moral" responsibility in Jordan McNair's death

    At that point, the school promises to share the results with McNair's family before they become public. Athletic director Damon Evans said Tuesday that Rick Court is no longer associated with the program.
    Erdogan says Turkey to 'boycott' United States  electronic goods

    Erdogan says Turkey to 'boycott' United States electronic goods

    It also indicated it would lend money at interest rates above prevailing market rates, an effective tightening of monetary policy. More than 30 percent of the lira's loss has come since June, when Erdogan took over the office with new sweeping powers.
    Two-time champion Fernando Alonso leaving F1 at end of the season

    Two-time champion Fernando Alonso leaving F1 at end of the season

    According to IndyCar CEO Mark Miles, Zak Brown and McLaren still have plenty of time to investigate running a team in IndyCar. Alonso returned to Renault in 2008, before joining Ferrari in 2010.
  • Real face up to life without Ronaldo

    Real face up to life without Ronaldo

    That means Keylor Navas will start in goal ahead of Madrid's latest marquee signing, while Kiko Casilla is set to be on the bench. Antoine Griezmann has been named one of Atletico Madrid's four captains following the departure of Gabi.
    Yemen buries children killed by air strike, Riyadh insists raid legitimate

    Yemen buries children killed by air strike, Riyadh insists raid legitimate

    The report also said that the USA had approved the sale of MK-82 to Saudi Arabia, United Arab Emirates , France, and Iraq in 2016. The UN envoy to Yemen, Martin Griffiths, has invited the warring sides to talks on September 6 in Geneva.
    Vimeo removes Infowars content

    Vimeo removes Infowars content

    The theories he has promoted include that the September 11, 2001 attacks on NY and Washington were staged by the U.S. government. This makes Vimeo - a video uploading and sharing service similar to YouTube - the latest platform to remove Infowars content.
  • Inflation rate drops to 11.14% in July-NBS

    Inflation rate drops to 11.14% in July-NBS

    The CSO data revealed that inflation in vegetables declined by (-) 2.19 percent last month, compared to 7.8 percent in June. The food inflation came at 1.37 per cent, driven by cooling of pulses, vegetable and sugar rates.
    Reality Star Lyric McHenry Dead at 26

    Reality Star Lyric McHenry Dead at 26

    McHenry first posted a boomerang of a chessboard at The Frederick Hotel in Tribeca, before she moved to the Soho Grand Hotel. The night before her body was found, it appeared she was celebrating her birthday.
    Trump campaign taking legal action against Omarosa

    Trump campaign taking legal action against Omarosa

    She said she did not write this in her book because she heard the tape after her memoir was sent off for publication. Trump is heard saying, after chief of staff John Kelly terminated her employment.
  • Pennsylvania report of 300 priests who sexually molested 1000 kids

    Pennsylvania report of 300 priests who sexually molested 1000 kids

    Charges were filed against former Erie Catholic Diocese priest David Poulson in May for the sexual abuse of two young boys. In July, the Pennsylvania supreme court ruled the interim report would be released with temporary redactions by 14 August.
    Turkey to boycott U.S.  electronic goods

    Turkey to boycott U.S. electronic goods

    On Tuesday, he said the government is working on steps to help banks and support companies affected by the currency crisis. President Recep Tayyip Erdogan suggested that Turkey will stick to Samsung and Vestel if U.S. products are banned.
    Meghan Markle 'won't fall for dad's crocodile tears'

    Meghan Markle 'won't fall for dad's crocodile tears'

    By that stage, Thomas Markle was in hospital recovering from a heart attack, and had decided not to attend the royal wedding. Prince Harry has flown to Botswana, the country he and wife Meghan Markle "fell in love" in, but she's not coming.


Popular

21-year-old receives historic face transplant
It's no secret why National Geographic would choose to have Katie Stubblefield , 21, on the cover of their latest issue. Ms Stubblefield now takes medication to reduce the risk of organ rejection, and will do so for the rest of her life.

Samsung CEO: Note9's battery is safe, phone will outsell its predecessor
In addition, the Note 9 boasts a more powerful 64-bit octa-core processor along with a larger, more powerful battery . And with the Note 9's release date fast approaching retailers have started offering money-off deals on the Note 8.

Gold actor Akshay Kumar turns traffic cop to promote road safety
The actor asks the driver if freedom fighter Lokmanya Tilak is his father as the road lane is named: "Lokmanya Tilak Road". In the video, the actor, who is dressed as a traffic policeman, flags a vehicle that tries to turn into a "No Entry" zone.

Kane starts for Spurs with August hoodoo in his sights
Pochettino admitted it may take some of his players up to two months to get fully fit. Vertonghen said: "You go a bit blind and you hope for some contact, and I had it".

Harley-Davidson overseas move was years in the making: Bikers for Trump
Trump accused Harley of using the European retaliatory tariffs as "an excuse" for moving manufacturing overseas . Trump is calling for a boycott of Harley-Davidson as the company invests in production facilities in Europe.

Kiwi in Genoa: Collapsed bridge widely used
However, the bidding process for a substantial safety project for the bridge, worth $22.7 million, was set to begin soon, he said. It called for a "Marshall Plan" to fix or replace tens of thousands of bridges and viaducts built in the 1950s and 1960s.

Vermont Votes for the First-ever Openly Transgender Nominee for Governor
While she supports the ban of assault weapons, the Democratic nominee said it is not an issue of high importance on her list. Phil Scott is the current governor of Vermont, and she will face him in the November general election.

Oil steady as emerging market woes dim demand outlook
Iran is the third-largest producer among the members of the Organization of the Petroleum Exporting Countries (OPEC). West Texas Intermediate was down 0.6% to $67.34 per barrel at 3:15 p.m.

Demi Lovato's overdose reportedly caused by Oxycodone laced with fentanyl
More details have emerged regarding Demi Lovato's drug overdose , which TMZ says was trigged by Oxycodone laced with fentanyl. After her discharge from the hospital, the singer broke her silence with a post to Instagram .

Does wearing a face mask protect from wildfire smoke?
When the air quality is anything other than good , watch for symptoms such as coughing or shortness of breath and reduce exertion. People should limit their time outside and refrain from vigorous activities like running or playing sports.