Tensions between the US and Turkey continued to rise on Friday, with President Trump announcing that he is doubling tariffs on steel and aluminium coming out of Turkey. Trump added that relations between the two nations “are not good.”
This comes just over a week after the US had already sanctioned two top Turkish cabinet officials, and a day after Turkish lawyers filed criminal complaints seeking the arrest of a number of high-ranking US Air Force officers at Incirlik Air Base.
The additional US sanctions sent markets down worldwide, but especially across Europe. Turkey’s lira dropped 14% over the course of the day to a multi-year low. Trump bragged about that the lira “slides rapidly downward against our very strong Dollar!”
Turkey’s President Erdogan urged Turks to sell all gold and US dollars they hold and buy the lira to support the country. He also told them to put their trust in God. This is the biggest one-day fall in the lira since the 2001 Turkish financial crisis.
there is the likelihood of ‘contagion’ as they say in the financial world as Turkey has plenty of debt through US and especially European banks….
this is truly a nasty fight and even though I find Erdogan rather detestable, he has a point in all this.
These kinds of tariffs and the attacks on the currency are simply acts of war
THIS…GETS…WORSE…GOING…FORWARD. The enabling of bad behavior resulting in bad policies has continued unabated, particularly by the GOP who, until just recently were the party of free trade and globalism. A man that suffers no penalty for his increasingly bizarre protectionist dogma is not soon to come his senses or be brought to heel. Reckless protectionism and immigrant dehumanization are TWO things you can count on between now and 2020. Personally, I’m hoping the feral idiot does his bloody best to tank the economy before then…because THAT will be the thing that sends his ass packing in 2020.
> Trump added that relations between the two nations “are not good.”
What? NO. Relations between POLITICIANS are not good. They never are.
Did we miss Soviet Union? Yes we did.
Strong Russia and China will keep ” bastard honest ” Don Chipp’s Motto new political party Australian Democrats “founder.