Trump Announces Snap Steel and Aluminum Tariffs for Turkey #TurkeySanctions
US President Donald J. Trump announced a snap tariff to Turkey regarding steel and aluminum, stating that the relations between the two countries “are not good at this time!”
The TRY sank further to 6.3 against the US Dollarr immediately following the announcement.
Here is the tweet:
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!
— Donald J. Trump (@realDonaldTrump) August 10, 2018