Turkey fires back with tariffs on USA cars, alcohol, cosmetics

17 August, 2018, 15:37 | Author: Teresa Adams
  • Damage to Euro from Lira Crisis has its Limits: CBA

In an address in the Turkish capital Ankara, Mr Erdogan insisted his nation's economy was strong and said the currency would soon settle "at the most reasonable level".

"Tax rates on imports of some products have been increased on a reciprocal basis against the US administration's deliberate attacks on our economy", Vice President Fuat Oktay said on Twitter.

On Thursday, Turkish Finance Minister Berat Albayrak assured worldwide investors on a conference call that the country would emerge stronger from its currency crisis and that its banks were healthy. In the months preceding the blockade Turkish companies were handling projects worth about $11.6bn in Qatar, most of which is put into FIFA World Cup 2022 projects, according to Qatar Chamber.

The White House says "we won't forget" how Turkey has treated a detained American pastor, after a court rejected his appeal for release.

The Trump administration has said Turkey could face additional sanctions if he isn't quickly released.

The talks come as the United States and Turkey, two major North Atlantic Treaty Organisation allies, are engaged in a bitter diplomatic and trade dispute over the detention of an American pastor accused of terror related charges that has helped drive the Turkish currency to record lows last week before recovering some of its losses in recent days.

Another government ban is targeting Huawei and ZTE hardware
When the US Senate passed its defense funding bill in June, it included language blocking this deal and reinstating the ZTE export ban.

Tuesday night, Turkey announced new tariffs against the United States, the latest in the mounting tit-for-tat between the long-time allies.

Washington wants the evangelical Christian freed but Turkish officials say the case is a matter for the courts.

As the feud between the US administration and Turkey deepens, Turkish officials announced Wednesday they will increase tariffs on certain American imports.

Turkey's lira, meanwhile, dropped nearly 3 percent to almost 6 per dollar TRY=D3 again, having recovered ground rapidly in recent days.

The White House said on Wednesday that it would not remove steel tariffs on Turkey, appearing to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges.

Investors are anxious that about Mr Erdogan's control over the central bank and his pressure to keep it from raising interest rates. China's Ministry of Commerce said it had received an invitation from the United States for talks to be held with U.S. Under Secretary of Treasury for International Affairs David Malpass.

Authorities say firefighter killed battling Northern California
Cal Fire shared the unlikely tale to Twitter on Saturday when they posted a photo of a perfectly happy looking pet fish. After a month of burning, the Ferguson Fire has singed 96,457 acres across three national forests and private land.

In response, Erdogan has called for a boycott of USA electrical goods.

He said many emerging market countries have improved their basic economic policies and regulations, and markets are differentiating between Turkey and these others.

That hasn't prevented Turkish officials from continuing to press their perceived leverage in Brunson.

United Kingdom -based online travel agent Travel Republic says bookings to Turkey increased by 21 percent in the last three days.

The decision came after Qatar's emir, Sheikh Tamim bin Hamad Al Thani, met with Turkish president Recep Tayyip Erdogan in Ankara.

The move by Turkey's Gulf ally offered further support to a lira rally after the Turkish central bank tightened liquidity and curbed selling of the currency.

NASA counts down to launch of first spacecraft to 'touch Sun'
It's the fastest any man-made object will have ever traveled and the probe will likely hold that title for a long time. The goal for the Parker Solar Probe is to make 24 passes through the corona during its 7-year mission.


  • Democrat becomes first United States  transgender nominee for governor

    Democrat becomes first United States transgender nominee for governor

    It was also enough to knock Scott out of his place in the top 10 - which he had shared with popular blue-state GOP Govs. Hallquist defeated a crowded field of Democratic contenders to capture the nomination.
    L'Equipe: Zidane wants to take over at Manchester United

    L'Equipe: Zidane wants to take over at Manchester United

    Mourinho is under huge pressure win the Premier League this season after failing to win a trophy at Old Trafford last campaign. First, I got married and had an fantastic time, then I played in the World Cup, which was also a great experience.

    Listen to the conversations Omarosa secretly recorded of John Kelly

    Even Trump had begun wearying of Manigault Newman's omnipresence in meetings by the middle of his first year, those people said. The president expresses disbelief at her dismissal, which he claims he "didn't know" about until he saw it on the news.
  • Erdogan vows action against 'economic terrorists' over lira plunge

    Erdogan vows action against 'economic terrorists' over lira plunge

    The bank also revised reserve requirement ratios for banks, in a move also aimed at staving off any liquidity issues. The Shanghai Composite Index fell 0.5 percent to 2,771.81 and Hong Kong's Hang Seng lost 0.9 percent to 27,686.99.
    A solar Eclipse in August: how it will affect health

    A solar Eclipse in August: how it will affect health

    Viewers of solar eclipses are advised to never look directly at the Sun, and either wear specialised glasses or viewing boxes. In 2018, the first eclipse was the super blue blood moon on January 31 followed by a partial solar eclipse on the February 15.
    Another quake rocks Lombok; Death toll at 259

    Another quake rocks Lombok; Death toll at 259

    The death toll is estimated by some to have now topped 300. "We saw everybody leaving in boats but no boat came to us", he said. After the 6.9 magnitude natural disaster in Lombok, Facebook users wrote "I hope people will survive".
  • Pogba tight-lipped over United situation for fear of being fined

    Pogba tight-lipped over United situation for fear of being fined

    United went on to win 2-1, with Pogba, fresh from a World Cup-winning campaign that he was lauded for, scoring the opener. Bartomeu suggested that more players will leave the club before the window closed but didn't rule out incomings either.
    President Trump calls ex-aide ‘crazed, crying, lowlife dog’

    President Trump calls ex-aide ‘crazed, crying, lowlife dog’

    Omarosa was able to dominate the national conversation in the past few days in a way only her former mentor can. She said if she had, she would have "left immediately".
    Official death toll still 131 in Indonesia quake

    Official death toll still 131 in Indonesia quake

    Among other major buildings to collapse were a health clinic, government offices and other public facilities, he said. But some evacuees have complained of being ignored or of experiencing long delays for supplies to arrive at shelters.
  • Valverde praises Dembele after Barca's Supercopa triumph

    Valverde praises Dembele after Barca's Supercopa triumph

    Lionel Messi won his 33rd title with Barcelona on Sunday to become the most successful player in the Catalan club's history. It had been thought the Spanish Super Cup was the same but Sevilla said they would object to "an improper line-up".
    Saudi Fund Express Support For Taking Tesla Private: Elon Musk

    Saudi Fund Express Support For Taking Tesla Private: Elon Musk

    The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private, a Bloomberg report states. He also said that by taking the electric vehicle company private it would end "negative propaganda from shorts".
    Manchester City make Emery suffer in his Premier League debut

    Manchester City make Emery suffer in his Premier League debut

    Arsenal manager, Unai Emery has explained why his side lost to Manchester City in their Premier League opener on Sunday evening. Manchester United legend Gary Neville believes Unai Emery needs near three seasons to rebuild the Arsenal squad.


Oil Falls Amid Rising U.S. Inventories
Official U.S. oil inventory data was due to be published later on Wednesday by the Energy Information Administration. Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.

USA priests in Pennsylvania 'abused thousands of children'
The grand jury identified 301 predator priests based on secret archives in each of the dioceses involving over 1,000 victims. Twenty of the grand jurors said Tuesday they objected to "any attempts to censor, alter, redact or amend" the report .

Parents and son, 7, killed in Genoa bridge collapse
Cars are blocked on the Morandi highway bridge after a section of it collapsed, in Genoa , northern Italy, Tuesday, Aug. 14, 2018. Other images showed a green truck that had stopped on the bridge just meters (yards) short of the gaping hole in the bridge.

Ben Stokes found not guilty of affray over street fight
Any possible sanction will take into account that Stokes has already missed the Ashes tour as a result of the episode. Stokes was on trial for knocking out two men in the southwest English city of Bristol last September.

Let’s revisit that time when Aretha Franklin made Barack Obama cry
Franklin was awarded the Presidential Medal of Freedom - the highest award for an American civilian - by then-president George W. The soul singer Aretha Franklin was said to be seriously ill and surrounded by family and friends in hospice care yesterday.

Turkey's central bank promises 'all necessary measures' to save its financial system
The unit may reverse its previous falls in the wake of upcoming news and banking regulations imposed by Turkish authorities. Market analysts broadly welcomed his comments but said investors wanted to see action.

Frank Luntz: Omarosa's Lying About Me Hearing 'Trump Use the N-Word'
Omarosa went on to say she was "disturbed" knowing the person she thought she knew was a racist. Manigault starred in NBC's reality show The Apprentice while it was hosted by Trump.

This Indian politician to attend Imran Khan’s swearing-in ceremony
We will work to improve the situation in the provinces, he said, adding that they will introduce a new local government system. The event will be held in Islamabad on Saturday, August 18, 2018.

Omarosa claims she heard Trump N-word tape after book's publication
Trump adviser Kellyanne Conway responded on ABC's This Week that confidentiality agreements in the White House exist for a reason. Ms Newman, whose tell-all book about her White House tenure is to be released tomorrow, left the administration in December.

Trump doubles steel and aluminium tariffs on Turkey as lira nosedives
The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of Middle East Eye. The economic spat between the U.S. and Turkey has continued to escalate today, as the struggling lira currency plunges in value.