Turkey issues retaliatory tariffs on U.S. imports

15 Août, 2018, 11:24 | Auteur: Auguste Feret

Turkey's Vice President Fuat Oktay said on Twitter that the tariffs on certain products were increased "within the framework of the principle of reciprocity in retaliation for the conscious economic attacks by the United States".

Ankara has sharply increased tariffs on certain USA imports, some of them more than double, in response to Washington's "deliberate attacks" on the Turkish economy amid a widening dispute between the two North Atlantic Treaty Organisation allies.

A decree published in Turkey's official gazette and signed by President Tayyip Erdogan doubled the tariffs on passenger cars to 120%, on alcoholic drinks to 140% and on leaf tobacco to 60%.

Ankara and Washington are at odds on multiple fronts, including the Syria policy and Turkey's intent to buy Russian defense systems.

Turkey announced Wednesday it is increasing tariffs on imports of certain USA products, escalating a feud with the United States that has helped trigger a currency crisis. On July 25, Brunson was placed under house arrest after nearly two years in a Turkish jail. The currency has now stabilised at around 6.50 lira against the dollar.

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On August 10, Trump approved a doubling of steel and aluminum tariffs on Turkey, saying Washington's ties with Ankara were "not good at this time".

"Recent developments in the U.S. -Turkey relationship threaten both countries' economic interests and put at risk an alliance that has proven its value over decades", Brilliant said.

President Erdogan said on Tuesday that Turkey was taking measures to stabilise its economy and should not "give in to the enemy" by investing in foreign currencies. "I am calling on those in America again".

The decision to impose new tariffs came a day after Erdogan said Turkey would boycott United States electronic goods, singling out iPhones.

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