Turkey increases tariffs on some United States imports, escalating feud

A spokesman for the Turkish president has said Washington must stop trying to influence Turkey's judiciary.

Turkey has sharply raised tariffs on USA imports, including passenger cars, alcohol and tobacco. Ankara more than doubled the tariff on U.S. rice to 50%, increased the USA coal tariff to 14% from 10% and more than tripled the tariff on cars to 120%.

Finance Minister Berat Albayrak assured global investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting that the country's banks were healthy and strong.

The tariff increases followed Donald Trump's decision last week to double United States tariffs on Turkish steel and aluminium, deepening Turkey's economic crisis.

Erdoğan has accused the USA of waging economic war against his country and has vowed not to back down.

The Trump regime imposed financial sanctions on Friday against two Turkish government officials and doubled steel tariffs to 50 per cent and aluminium tariffs to 20 per cent in retaliation for the pastor's detention.

Sanders also criticized Turkey's imposition of tariffs on some US goods as "regrettable and a step in the wrong direction". Though it was unclear how the boycott would be enforced or encouraged.

Investors are anxious that about Erdogan's control over the central bank and his pressure to keep it from raising interest rates.

The hikes were published in Turkey's Official Gazette in a decree signed by President Recep Tayyip Erdogan, who has repeatedly described the crisis as an "economic war" that Turkey will win.

Turkey slapped another round of steep tariffs on USA goods as the two countries escalate their trade battle and push the relationship to a breaking point.

President Erdogan jailed Brunson almost two years ago following a military coup attempt, arguing Brunson has ties to the coup plotters.

Beyond the bluster of the two world leaders, the spat between the North Atlantic Treaty Organisation allies has exacerbated a financial storm in Turkey.

A Turkish court on Wednesday denied an appeal from pastor Andrew Brunson to be released from house arrest.

Putting all the mathematics and statistics together, it concludes that there are 8.5 times more iPhone users worldwide than there are people in Turkey. After this latest row with the sanctions and tariffs, President Erdogan told supporters that his country would seek out new allies if the us made a decision to cut ties. The U.S. president believes Erdogan reneged on an earlier deal to free Brunson, while Erdogan has his own set of grievances - including a demand that the U.S. extradite a former ally he blames for the failed coup - that predate the latest crisis.

It usually takes a court between 3 to 7 days to process an appeal but a ruling could come sooner in this case, Brunson's lawyer Ismail Cem Halavurt told Reuters.

The Fund was monitoring the situation closely, the spokesperson added.

As CBS News correspondent Holly Williams reported on Wednesday, angry Turks have also torn up fake dollar bills in protest.

  • Zachary Reyes