Turkey retaliates against USA tariffs

Turkey news: Erdogan rages at Trump 'economic warfare' over sanctions | Daily Star

Turkey doubled tariffs on some USA imports including alcohol, cars and tobacco on Wednesday in retaliation for US moves, but the lira rallied further after the central bank's liquidity moves had the effect of supporting the currency.

Turkey on Wednesday doubled tariffs on several USA products, including alcohol and tobacco products and cars.

Qatar's emir headed to Turkey on Wednesday for talks with President Recep Tayyip Erdogan who is dealing with a collapse of the lira currency and deteriorating relations with the United States. He suggested Turks would buy local or Korean-made Samsung phones instead, although it was unclear how he meant to enforce the boycott.

Sanders' statements are particularly significant because, with the crisis in relations between the two North Atlantic Treaty Organisation allies, the White House appears to have taken firm charge over U.S. dealings with Ankara. The tariffs that the United States placed on Turkey were out of national security interest. It recovered a bit, by 4 percent to around 6.12 lira per dollar Wednesday, after the government took steps to shore up the currency by reducing the daily limit in bank foreign currency swap transactions.

Qatar's financial pledge and Ankara's crackdown on short-selling helped the lira bounce back, rising about 5% to TL6.04 against the dollar.

Ibrahim Kalin, spokesperson for the president, confirmed the amount of investment in a tweet.

Also helping the Turkish currency were moves by Turkey to gain favour with European countries.

A Turkish court Tuesday released two Greek soldiers detained since March on espionage charges for illegally crossing the border in a case that has stoked tensions with Brussels. On Wednesday, Turkey then freed Amnesty International's honorary chairman for Turkey, Taner Kilic, from prison pending the outcome of his trial on terror charges.

Earlier on Wednesday, Erdogan spoke on the phone with German Chancellor Angela Merkel, the Turkish presidency. "We have other partners and alternative markets", said Turkish Trade Minister Ruhsar Pekcan.


Turkey and Qatar, a close USA ally, have become close economic and political partners in recent times. Asked what the U.S. would view as progress in resolving the dispute, she replied, "Progress is having Pastor Brunson on a plane, coming back to the United States". "He did not say when the boycott would start or how it would be enforced", wrote the paper.

Apple has 22 per cent of the smartphone market in Turkey, where 11.4 million units were sold previous year, according to Ramazan Yavuz, research manager at IDC consultancy company.

In response, Erdogan has called for a boycott of United States electrical goods while Ankara has sharply hiked tariffs on some USA goods.

Separately, in a story headlined "Turkey Shifts Closer to Russia", the Wall Street Journal highlighted contacts between Turkish Foreign Minister Mevlut Cavusoglu and his Russian counterpart Sergey Lavrov.

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

Mr. Trump has repeatedly asked for Mr. Brunson's release, while Ankara said the decision was up to the court.

The rejection of the appeal is subject to a routine review by the Izmir Supreme Court, according to Anadolu.

Brunson's lawyer Cem Halavurt confirmed to AFP that he appealed for the release of his client once again on Tuesday, saying that: "The court should deliver its ruling in the next three days".

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