Turkey issues retaliatory tariffs on US imports

Latest news

    Turkish President Recep Tayyip ErdoganImage copyright Reuters
    Image caption President Erdogan has accused the US of seeking to “stab [Turkey] in the back”

    Turkey has sharply raised tariffs on US imports, including passenger cars, alcohol and tobacco.

    A decree signed by President Recep Tayyip Erdogan raised the tariffs on cars to 120%, on alcoholic drinks to 140% and on leaf tobacco to 60%.

    The US doubled tariffs last week over Turkey’s refusal to extradite a US pastor who is imprisoned there.

    Turkey’s weakened currency, the lira, plunged by more than 20% in response to those US sanctions.

    Explaining the new tariffs, Turkish Vice-President Fuat Oktay said the rises were ordered “within the framework of reciprocity in retaliation for the conscious attacks on our economy by the US administration”.

    Tariffs were also increased on cosmetics, rice and coal. Turkey had previously said it would boycott US electronic products.

    Inflation

    The lira plunged to record lows on Monday, but has since clawed back some of its losses.

    Since January, the Turkish lira has lost more than 34% of its value against the dollar, pushing up the price of everyday items.

    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.

    He has presided over soaring inflation and borrowing levels, but insists the lira’s plight is the result of a “campaign” led by foreign powers.

    Jailed pastor

    Mr Erdogan has accused the US of trying to “bring Turkey to its knees through threats over a pastor”.

    But the US insists Andrew Brunson, a long-time Turkish resident who ran the tiny Izmir Resurrection Church, is “a victim of unfair and unjust detention”.

    Image copyright AFP/Getty Images
    Image caption US President Donald Trump has called pastor Andrew Brunson “an innocent man of faith”

    An evangelical from North Carolina, he has been held in Turkey for nearly two years over alleged links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for a failed coup in 2016.

    On Wednesday a Turkish court rejected his latest appeal to be released from house arrest. A higher court is still to rule, his lawyer told Reuters.

    White House press secretary Sarah Sanders said the US had seen “no evidence that Pastor Brunson has done anything wrong”.

    Mr Brunson has denied charges of espionage, but faces up to 35 years in jail if found guilty.

    View the original article: https://www.bbc.co.uk/news/business-45194003

    https://www.bbc.co.uk/news/business-45194003

    In the same category are

    PM to announce £2bn for social housing Image copyright Getty Images Two billion pounds of new funding to build affordable and social housing in England will be announced by the prime mini...
    ‘Sexist, unsafe’ world experienced by young girls Image copyright Getty Images An "alarmingly high" number of girls and young women feel unsafe outside their home, according to annual research for G...
    Yoghurts (even organic ones) ‘full of sugar’ Image copyright Getty Images Many yoghurts are full of sugar and the public should not be lulled into thinking they are eating healthy products, res...
    The satellite that can clean up space rubbish from Earth’s orbit A net has been successfully fired into space as part of a plan to clean up the millions of pieces of rubbish floating in Earth's orbit.It was a fired ...
    Yemen conflict: A million more children face famine, NGO warns Image copyright Mohammed Awadh/ Save the Children Image caption A 14-month-old child suffering from malnutrition receives treatment at a clinic in ...
    ‘Wild West’ Bitcoin ‘should be regulated’ Image copyright Getty Images Image caption Cryptocurrencies' trading prices have been extremely volatile Bitcoin and other digital currencies are ...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.