U.S. tariffs hike adds to Turkey's economic problems

13 Août, 2018, 04:39 | Auteur: Anatole Charbonneau
  • U.S. tariffs hike adds to Turkey's economic problems

In a New York Times article on Saturday, Mr Erdogan warned that Turkey would be forced to seek new friends. United States stocks were also rattled.

A slew of unnerving headlines this week from the United Kingdom, Russia, and Turkey has culminated in a wild Friday for global markets.

On Friday the currency dropped as much as 18% at one point, the biggest one-day fall since a 2001 financial crisis in Turkey.

This prompted yet another tweet from President Trump, this time announcing the actual authorization of the doubling of tariffs on steel and aluminum for Turkey.

These fears spilled over into U.S. markets, with investors shifting their focus away from strong corporate earnings to what was happening across the Atlantic.

The meetings came as Turkey seeks to stanch an economic meltdown amid fallout from USA sanctions imposed last week over the continued detention of the pastor, Andrew Brunson, who was jailed on espionage and terrorism suspicions more than two years ago and recently released to house arrest.

"You impose sanctions on our Halkbank. and then you expect different treatment from Turkey?" said Erdogan, in a second speech in the same city.

"Their currency, the Turkish lira, slides rapidly downward against our very strong dollar!"

Turkey's currency has nosedived amid concerns about the country's economic policies and its dispute with the US.

Kavanaugh confirmation hearings set to start on September 4
Burck vetted the initial documents from the Bush Library, the documents were sent only to the Senate Judiciary Committee members. And just because it's an election year, it does not mean that Judge Kavanaugh can not - or should not - be confirmed.

Pep Guardiola fait l'éloge de Riyad Mahrez — Manchester City
C'est un apport de plus pour nous. "Avec son arrivée, nous pourrons également concurrencer un peu plus nos attaquants et nos ailiers", a-t-il indiqué à Sky Sports .

Exercise Improves Mental Health: What Is The Maximum Limit?
Strongest improvements were seen in those who had performed team sports, aerobics, and gym exercise. The participants experienced an average of 3.4 days of inadequate mental health a month.

Erdogan has further attempted to bolster the nation against this "economic war", calling for citizens to exchange foreign currency and gold for lira as part of the "domestic and national struggle".

The White House said Mr Trump had authorised them under a section of USA trade law that allows for tariffs on national security grounds.

In a statement the White House clarified that Trump had authorized the preparation of documents to raise steel and aluminum tariffs.

"This could be the most expensive pastor in world history", Sekulow said, referring to the harm being done to Turkey's economy.

The pound also nosedived this week.

Mr Erdogan appealed for calm and renewed a call on people to change foreign money into local lira. It is obvious how it will be done: "since the final decision-maker of all policies in the new regime is the president, the responsibility of regaining confidence is on his shoulders".

"In the 1970s, the Turkish government stepped in to prevent massacres of ethnic Turks by the Greek Cypriots despite Washington's objections", he said, warning that unilateral action against Turkey will hurt American interests in the region. The dollar eased against the safe haven yen to 110.65, but was a shade firmer against a basket of currencies at 96.388.

Iran has also suffered from a major tumbling of its currency this year partly over reimposition of U.S. sanctions after Trump abandoned a 2015 nuclear deal.

The announcement intensified fears that USA sanctions on Russian Federation may not recede anytime soon. The ruble has lost 17% of its value against the dollar this year.

Conseillé:

  • Tiger Woods is making weirdest PGA Championship charge

    Tiger Woods is making weirdest PGA Championship charge

    The Kiwi sits in a tie for 28th at four-under through three rounds after carding a two-under round of 68 on Sunday (NZ time). Woodland's 36-hole score broke the PGA record by one shot, most recently set by Jimmy Walker and Robert Streb at Baltusrol.
    Ten in hospital after Manchester shooting

    Ten in hospital after Manchester shooting

    A carnival in the area had finished some hours before the incident, it was reported. TEN people have been injured after a shooting incident in Manchester .
    ‘We need to stay together’: Pochettino proud as Tottenham make a stand

    ‘We need to stay together’: Pochettino proud as Tottenham make a stand

    However, Tottenham were also quick to pile up the pressure on a Newcastle side that looked fairly unstable defensively. Their best fell to new loan signing Salomon Rondon but his shot deflected onto the crossbar when he was played through.
  • Sterling shines on Manchester City return

    Sterling shines on Manchester City return

    Going forward, things were made particularly hard for him by the absence of a natural left-back to lend him support. Manchester City kicked off the defence of their title with a classy 2-0 victory over Arsenal on Sunday afternoon.
    Real Madrid, Liga, l'étrange fin de mercato de Mariano Diaz — OL

    Real Madrid, Liga, l'étrange fin de mercato de Mariano Diaz — OL

    Il faut dire que le Real Madrid dispose d'encore 40% des droits du joueur ce qui faciliterait l'opération. Le premier exercice complet de sa carrière dans l'élite d'un championnat majeur avec un rôle important.
    Pinty’s Oven Roasted Chicken Breast Strips Recalled

    Pinty’s Oven Roasted Chicken Breast Strips Recalled

    The recall was triggered during testing by the Canadian Food Inspection Agency (CFIA) and a food safety investigation is underway. Anyone who finds this product in their homes should throw it away or return it to the store.
  • Arsenal v Manchester City

    Arsenal v Manchester City

    Manchester City English Premier League opening weekend featured match in the video below, courtesy of NBC Sports . It seemed the goal might open the floodgates, but Cech was in solid form and kept the score down to just one.

    Grieving Orca Whale Releases Dead Calf After More Than Two Weeks

    But on Saturday experts confirmed she had dropped the calf. "Her tour of grief is now over and her behavior is remarkably frisky". But by the time a team from the Centre for Whale Research arrived to take pictures of the newborn, it sadly was no longer alive.
    Twitter boss admits he was wrong to suggest journalists police site

    Twitter boss admits he was wrong to suggest journalists police site

    The network should be more vigilant in enforcing its own rules and acknowledging where it's made mistakes in the past. Twitter is one of the only remaining major social media platforms that hasn't banned Jones or the InfoWars account.
  • 'I can not  say': Pogba drops massive hint at United trouble

    'I can not say': Pogba drops massive hint at United trouble

    It was one of those defeats that would not rankle the manager or the fans for a long time because of its nature. That said, I have chose to match the scoreline in giving two positives and one negative.
    Kurt Zouma finally completes Everton loan move from Chelsea

    Kurt Zouma finally completes Everton loan move from Chelsea

    The Frenchman will miss out on the trip to Molineux alongside deadline day signings Bernard , Yerry Mina and Andre Gomes . It is the best league in the world. "It's a team that fights with the big guys and I think we can do a great job there".
    NASCAR chairman taking leave of absence after DWI, oxycodone possession arrest

    NASCAR chairman taking leave of absence after DWI, oxycodone possession arrest

    Jim France , Brian's uncle, has assumed the chairman and CEO roles for the privately owned company. So neither said anything as of Tuesday, and the attention instead was steered back toward Elliott.


Populaire

Hundreds injured in anti-government protest in Romania
Several journalists, including an Austrian public television ORF cameraman, said they were attacked with tear gas by riot police. People shine the lights of their mobile phones during a protest outside the government headquarters in Bucharest .

New changes announced for upcoming Oscars ceremonies
The biggest Academy Awards audience on record came in 1998 when the blockbuster " Titanic " was named best picture. In 2009, it expanded the number of best picture nominees from five to 10 in a bid to open up the competition.

Orages: dix départements du Sud-Ouest en vigilance orange dimanche après-midi
Les orages s'accompagneront alors de fortes rafales de vent de l'ordre de 80 à 100 km/h, et même au-delà localement. Une dégradation orageuse se généralisera par les Pyrénées, et débordera rapidement vers les plaines.

PA adds jobs, but unemployment rate up
Nationally, Statistics Canada says the country added 54,100 jobs in July and the national unemployment rate fell to 5.8 per cent. Camrose-Drumheller is sitting at an unemployment rate of 4.5 per cent up from June's 4.4 per cent.

Unai Emery confirms new Arsenal captain
Manchester City and Arsenal faced off in the final fixture of the opening game week of the new Premier League season as Unai Emery was pitted against Pep Guardiola in his first ever competitive game as Arsenal manager.

Ramon Laureano executes 321-foot throw to complete double play
Check it out from a better angle, and you can really appreciate how far of a throw Laureano had to make. On Saturday night, he gave us one of the finest defensive plays of the season.

Liverpool vs. West Ham United - Football Match Report
Klopp's strength in depth has been greatly elevated, even without having a full roster to select from yet. We can not be anything different than the challenge because we didn't win anything for a long time.

Intense fighting as Taliban presses to take Afghan city
Local television station 1TV says the number of fatalities has risen to more than 100, but there is no official confirmation. Abdul Wakil, who had managed to flee, told Reuters: "There was burning and fire and dead bodies everywhere in the city".

Ian Wright makes bold Arsenal vs Man City prediction
Arsenal legend Ian Wright believes playing Man City on the opening day of the season is a great time to face them . People say now we have to forget what we did last season.

Tsitsipas to play Rogers Cup final on birthday
Under a blazing afternoon sun, Tsitsipas and Anderson relied on their service games in the opening set on the showcase hardcourt. The 32-year-old Spanish star beat Tsitsipas in April in the Barcelona final in their only meeting.