Trump puts pressure on Turkey by doubling down on tariffs

Trump puts pressure on Turkey by doubling down on tariffs

Trump puts pressure on Turkey by doubling down on tariffs

Turkish President Recep Tayyip Erdogan is continuing his pushback against United States actions that now have investors concerned as the nation inches closer to a financial crisis, according to Bloomberg.

He railed against "those waging economic war" against Turkey.

He indicated Turkey's relationship with Washington was imperiled. The U.S. exported $9.75 billion worth of goods-mostly cotton, scrap iron, steel, civilian aircraft parts, coal, and petroleum gases-to Turkey, and imported $9.42 billion worth of goods from them.

While Turkey's economy is only the 17th largest in the world, there are a number of concerns that Trump's latest trade war is only further disrupting global commerce, damaging longtime alliances, and threatening global economic growth.

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The president also mentioned USA support for the PKK's Syrian affiliate, the People's Protection Units (YPG) in northern Syria, as another source of frustration.

While the numbers tell one story, trade relations and politics tell another.

Erdogan's threat to sever ties with the United States has raised many questions and sparked a debate with the Trump administration.

Tensions ramped up between the two countries over the detention of an American pastor by Turkey.

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Brunson could face 35 years in jail if found guilty of the charges. The pastor was accused of supporting terrorism; the pastor denies any involvement.

He also said it was wrong of the USA to try to bring Turkey into line with threats, a day after Trump doubled tariffs on steel and aluminium imports from Turkey. He is suffering greatly. The entire Turkish public is against US policies that disregard Turkey's legitimate security demands. Turkey's energy minister announced on August 8 that Turkey will keep buying liquid natural gas from Iran in violation of USA sanctions.

Last week, a Turkish delegation went to Washington and met with USA counterparts, but there was no breakthrough.

Turkish President Recep Tayyip Erdoğan has sharply criticized the United States decision to double tariffs on Turkish steel and aluminum imports, calling the move as an "operation" and portraying the plunge in the Turkish currency's value as an "economic war" against Turkey. Washington imposed the metals tariffs on national security grounds, claiming the glut of steel and aluminium harmed us companies and the economy. "It could serve as a template for further tariff actions against China if the renminbi depreciates further relative to the dollar, even if that depreciation were mainly a reflection of the relative strength of the USA and Chinese economies". -Turkish relationship, a deterioration made worse by Turkey's worsening human rights record and increased cooperation with Russian Federation and Iran in Syria.

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The Turkish lira on Friday hit a record low following President Donald Trump's announcement he was doubling USA tariffs on Turkish metals.

Turkey was facing artificial financial volatility, Erdogan said, and people should not pay close attention to foreign exchange prices, and should instead focus on the "big picture".

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