CNBC: Turkey slaps tariffs on American booze, cars as business groups urge diplomacy
Turkey has announced increased tariffs on U.S. products, raising duties on American booze to 140 percent, cars to 120 percent and tobacco to 60 percent.
The government claims it is responding to a "deliberate attack" by the U.S. on Turkey's economy, which is in the midst of a currency crisis that economists say was triggered by flawed monetary policy.
Tariffs on rice, cosmetics and coal will also be doubled, and Turkish President Recep Erdogan has urged his citizens to boycott U.S. electronic goods.
Turkey's government announced tariffs on American cars, alcohol and cigarettes on Tuesday, ramping up what has become a bitter dispute between the two NATO allies.
According to local press, the move doubles tariffs on a number of U.S. products, raising duties on American booze to 140 percent, cars to 120 percent and leaf tobacco to 60 percent.
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Update #1: Turkey aims new tariffs at U.S. as court rejects pastor's appeal (CBS/AP)
Update #2: Turkey raises tariffs on more US imports as diplomatic row escalates (Euronews/Reuters)
WNU Editor: Qatar has thrown a lifeline to the Turkish government .... Qatar throws Turkey a lifeline as spat widens with US (CNN). But the current economic and financial crisis has more to do with Turksh government policy and not what the U.S. is doing.
Update #3: The U.S. is threatening to respond .... U.S. official warns of more actions against Turkey if pastor not freed (Reuters).
1 comment:
This show down is years in the making. Relations have become more situational over the years as Turkey turned against key US allies in the region such as the Sunni powers, Israel and at times the US.
What was the final straw to break the back? The pastor thing is interesting since no previous US President has protected Christians in the middle east. Erdogan is entitled to ask, "Why now?". The S-400 deal can't be the issue as the US knows it and its allies drove Turkey to do it. Syrian betrayals? Yes that's my guess. Too many of them and with all the wrong actors. Qatar is being ballsy helping the Turks, bound to excite the Trump people.
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