Turkey raises tariffs on some United States imports in response to economic 'attacks'

15 August, 2018, 19:33 | Author: Regina Silva
  • Turks respond to Erdoğan's call to exchange foreign currency to support lira

The Turkish government said tariffs on American cars will be doubled to 120 per cent while those on alcoholic drinks will be hiked by the same rate to 140 per cent.

He clarified that there were no talks now planned between President Erdogan and President Donald Trump.He told the news conference that Turkey will take a positive stance towards trading in national currencies to escape from USA dollar pressure.

Erdogan said Turkey was facing an "economic attack" and a "bigger, deeper operation" but showed no sign of making concessions to the United States.

The crisis came days after US President Donald Trump announced a doubling of steel and aluminium tariffs on Turkey, as Washington pushes Ankara to release Evangelical Christian pastor Andrew Brunson, who is being held on terrorism charges for almost two years.

"If [the US] has the iPhone, there's Samsung on the other side", Mr Erdogan said, referring to Apple and its South Korean competitor.

In a direct threat against the White House, Erdoğan warned U.S. president Trump, who signed off the sanctions, of unspecified consequences for punishing Turkey. Erdogan warned that the U.S.is putting decades-old alliances at risk and pushing Turkey to seek allies elsewhere.

The lira firmed as far as 5.75 against the dollar on Wednesday and stood at 6.08 at 0943 GMT in a move initially triggered by the Turkish court decision on the Greek soldiers who faced espionage charges.

Erdogan also said Turkey was boycotting USA electronic products.

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.


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.


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.


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

Relations between the two North Atlantic Treaty Organisation allies have spiraled into a full-blown crisis over the trial of Christian pastor Andrew Brunson, who was held for 21 months in a Turkish prison until his transfer to house arrest last month - a move Washington dismissed as insufficient. Trump's top national security aide warned Turkey's ambassador on Monday that the USA has nothing further to negotiate until Brunson is freed, according to two people familiar with the matter. They also called on Turkey to work with the United States to improve relations.

In a joint statement Tuesday, Turkish business groups called on the government to institute tighter monetary policy in order to combat the currency crisis.

The Turkish central bank has pledged to take "all necessary measures" to stabilize the country's economy to make sure the banks have all the money they need. "The pressure is going to keep up if we're not seeing results".

The country's finance minister - who is also Mr Erdogan's son-in-law - will seek to reassure around 1000 worldwide investors in a teleconference scheduled for Thursday.

She said Turkey would continue to "protect the rights of Turkish companies and retaliate" against unjust actions by the United States.

"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", Lavrov said.

"We (also) have our Venus and Vestel", he said about homegrown Turkish electronics brands.

Recommended:

  • Zinedine Zidane wants to replace Jose Mourinho as manager

    Zinedine Zidane wants to replace Jose Mourinho as manager

    After his shock exit at Real Madrid, winning three consecutive Champions League titles, he was linked with a move to Juventus. Mourinho is still under contract at Manchester United and will continue as manager for the foreseeable future.
    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.
    Champions League wrap: Celtic bounced; Benfica, Ajax through

    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".
  • Turkey doubles tariffs on some USA imports; Turkish lira rallies

    The call for a boycott appears to be Erdogan's answer to the US decision to double tariffs on Turkish steel and aluminum imports. Details of how a boycott of American electronics might be enforced were not presented during Erdogan's speech.
    Monsanto ordered to pay $289 million in cancer lawsuit, Bayer shares slide

    Monsanto ordered to pay $289 million in cancer lawsuit, Bayer shares slide

    Partridge said scientific studies and two government agencies have concluded that Roundup does not cause cancer. On top of that astronomical number, there is an estimated 4,000 similar cases throughout the United States.
    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.
  • David Silva calls time on Spain duty

    David Silva calls time on Spain duty

    Silva will now focus exclusively on his City duties, with Pep Guardiola's side aiming to successfully defend their Premier League title.
    Manafort’s defense rests in financial fraud trial without calling a witness

    Manafort’s defense rests in financial fraud trial without calling a witness

    Andrew McCarthy predicted the defense's closing argument in Paul Manafort's trial will hone in on one person: Rick Gates . Trump's attention - and tweets - as he works to undermine the standing of the Mueller investigation in the public square.
    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.
  • 21-year-old receives historic face transplant

    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.
    Paris Jackson Underwent Surgery Without Anesthesia

    Paris Jackson Underwent Surgery Without Anesthesia

    The 88-year-old matriarch and her grandson TJ Jackson remain the legal guardians for Paris' 16-year-old half-brother Blanket. The singer felt that was saying a lot since she has so much ink on her body, which was painful to get.
    Demi Lovato's overdose reportedly caused by Oxycodone laced with fentanyl

    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 .


Popular

Nebraska Executes Prisoner Three Years After State Legislature Banned Capital Punishment
Moore's execution survived a last-minute legal challenge from a drug company and protests about the new lethal injection protocol. Court of Appeals for the 8th Circuit agreed with the lower court's ruling, paving the way for the execution to go forward.

Chelsea's Willian speaks out over Antonio Conte after off-season transfer links
Chelsea opened their Premier League campaign last Saturday with a comfortable 3-0 win away to Huddersfield. Willian was not satisfied regarding Antonio Conte's coaching.

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.

Scots unemployment rate down slightly to 4.2%
Unemployment has fallen to a 40-year low as the number of European Union nationals working in the United Kingdom drops. Economists polled in the run up to the release had expected an unemployment rate of 4 .2%.

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.

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.

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.

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.

Jim Mattis defends his reversal on Space Force
Secretary Mattis now says he's sure creating a sixth branch of the military is the best way to reorganize the Pentagon. This force will draw from across the military to provide space expertise in times of crisis and conflict, Pence said.

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.