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.

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.

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".

India look for lifeline on fourth day
The Indian batsmen have themselves to blame as much as the top-class bowling from the English fast-bowlers led by James Anderson. But Kuldeep rarely troubled Bairstow, who cover-drove him for four to complete a 76-ball fifty featuring seven boundaries.

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:

  • England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook

    England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook

    That partnership helped England recover from a top-order collapse that saw them slump to 89 for four at lunch on the third day. England outclassed India by an innings and 159 runs to win the second Test at Lord's on Sunday.
    Unai Emery confirms new Arsenal captain

    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.
    Liverpool vs. West Ham United - Football Match Report

    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.
  • Hundreds injured in anti-government protest in Romania

    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 .
    Week to forget for Celtic as 'proper Hearts' return

    Week to forget for Celtic as 'proper Hearts' return

    It is hard for a player. "My concentration is really on the players that are going to play and are going to be fit to play in Athens".
    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.
  • 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.
    Cousins shines as Vikings beat Broncos 42-28

    Cousins shines as Vikings beat Broncos 42-28

    Broncos S Jamal Carter (hamstring), CB Marcus Rios (hip) and TE Austin Traylor (right shoulder) got hurt. Thomas caught two touchdowns, including this 78-yard screen pass from quarterback Trevor Siemian.
    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.
  • 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.
    Sevilla threaten action over rule change for Spanish Super Cup vs. Barcelona

    Sevilla threaten action over rule change for Spanish Super Cup vs. Barcelona

    This is also the first year that the trophy will be decided over one game, with the Super Cup previously a two-legged affair. According to the rule governing the game in Spain, only three non-EU players are allowed in each La Liga matchday squad.
    Intense fighting as Taliban presses to take Afghan city

    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".


Populaire

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.

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.

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.

Ronaldo hospitalisé pour une pneumonie — Ibiza
Le double Ballon d'Or (1997 et 2002) était en vacances sur l'île des Baléares où il possède une maison. Il assure sur Twitter que son état s'améliore et qu'il pourra sortir demain.

Soirée plus courte, cinéma populaire, les Oscars vont changer
En conséquence, certaines récompenses (qui restent à déterminer) seront remises durant les pauses commerciales. Un montage des remises de ces prix techniques sera ensuite dévoilé plus tard au cours de la soirée.

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 .

‘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.

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.

Laura Ingraham Racially Attacks Legal Immigration on Live TV
The couple, originally from Slovenia, were long-time green card holders in the U.S. "But they're saying something different. America does not need to become great again, she will only become greater by being more of what she already is".