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Trump Targets a Doubling of Turkey Metals Tariffs as Ties Worsen

Bloomberg
Trump Targets a Doubling of Turkey Metals Tariffs as Ties Worsen

President Donald Trump ordered the doubling of steel and aluminum tariffs against Turkey, roiling global markets as relations between the NATO allies hit a new low. Trump announced the decision in a Friday morning tweet following a defiantly nationalist speech Friday by Turkish President Recep Tayyip Erdogan in which he vowed that his country wouldn’t bow to “economic warfare.” Tensions have intensified in recent weeks over Turkey’s detention of an American evangelical pastor. The Turkish lira Friday morning posted its worst weekly decline since 2008, raising the prospect of political upheaval in a nation with a key role in several of the world’s biggest challenges. The lira has now passed the