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US President Donald Trump doubles tariffs on steel, aluminum from Turkey

Investors are hoping Erdogan's comments would give some indication that the government was prepared to support the lira were disappointed with the currency crashing further in value

Reuters & AFP  |  Washington/ Istanbul 

US President Donald Trump said on Friday he had authorised higher tariffs on imports from Turkey, imposing a 20 per cent duty on aluminum and 50 per cent one on steel, as tensions mount between the two NATO allies over Ankara's imprisonment of an evangelical pastor and other diplomatic issues. “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump said in an early morning post on Twitter. “Aluminum will now be 20 per cent and Steel 50 ...

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First Published: Fri, August 10 2018. 23:44 IST
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