Turkey shaken by financial fears, President Trump rattles it further
Aug 14, 2018, 04:55
The ailing Turkish lira, which had already lost one third of its value this year largely over worries about Erdogan's wider control of the economy, crashed further to a fresh record low, at one point losing 18 percent, its biggest fall since 2001.
Trump, outraged by Turkey's detention of an American evangelical pastor on terrorism charges, said on Twitter he would double duties on Turkish aluminum and steel, to 20 percent and 50 percent respectively.
A meeting between senior diplomats from the two countries on Wednesday in Washington did not produce significant progress to ease tensions over the trial of USA pastor Andrew Brunson in Turkey on charges of supporting terrorism and espionage.
Trump added that the Turkish currency Lira "slides rapidly downward against our very strong Dollar!"
Walters did not offer any explanation as to how USA national security is threatened by steel and aluminum imports from Turkey, which hosts a major United States military base. Trump tweeted. Washington's relations with Ankara "are not good at this time", he added.
Turkish President Tayyip Erdogan told Turks to sell their gold and dollars to support the crumbling lira. The shared currency sank as much as 1.2 percent to the weakest in more than a year after a Financial Times report that the European Central Bank raised concern about the region's banks' exposure to Turkey. "Its aim is to force Turkey to surrender in every field from finance to politics, to make Turkey and the Turkish nation kneel down", Erdogan in Trabzon on Sunday.
"(Section 232 is) being employed more in a punitive sense rather than protecting a US industry for the sake of national security", said Dan Mahaffee, senior vice president and director of policy at the Center for the Study of the Presidency and Congress.
The steel and aluminum tariffs originally had nothing to do with the treatment of Brunson.
In a separate opinion piece in the pro-government newspaper Daily Sabah, Erdogan's spokesman Ibrahim Kalin said Turkey's efforts to solve the crisis with diplomatic methods have been dismissed by the Trump administration, warning that Washington might completely lose Ankara as an ally. Graham called Turkey's case against Brunson a "sham".
Erdogan said his decision to sanction the U.S.in retaliation for American sanctions was to convey that Turkey "does not respond to threats". Turkey was reportedly the sixth largest steel importer to the US.
The American-Turkish Council urged Turkey and the United States to maintain dialogue and to return to the negotiating table late Monday.
Berat Albayrak, Turkey's treasury and finance minister, sought at a news conference Friday in Istanbul to ease investor concerns about Turkey's econom.
But she said she was under the impression that Mr Manafort had been directing his deputies' actions and "knew what was going on". Gates' testimony began on Monday and will likely continue into Tuesday, when Manafort's defense attorneys will cross-examine him.
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The Monterey, Calif., nonprofit group analyzed commercial photos obtained from the satellite imagery firm Planet. The DPAA Laboratory at Hickam Air Force Base, Hawaii, is the first USA stop for the recently returned remains.
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Soybean prices were already falling, dropping 19 percent since early May to a 10-year low and corn is down more than 15 percent. Perdue said the programs are a short-term solution giving President Trump time to work out long-term trade deals in the future.
But private transportation experts say there are so many factors involved that the 1,000-lives figure is questionable. Now they're only about one-third, with less-efficient trucks and SUVS making up the rest.
Harley-Davidson has also announced that it will launch its first electric motorcycle, the Harley-Davidson LiveWire in early 2019. It also plans to add "lighter, smaller and more accessible products" through 2022 in its electric motorcycles portfolio.
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The DPAA has what it calls family reference samples, including DNA, for more than 90 percent of the missing servicemembers. The North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017.
The Pixel Stand will be able to handle commands, just like Google Home, even when the phone is charging or the display is not on. Of note is that apparently the back features a single piece of glass, but the top part is glossy, while the rest is matte.
Erdoğan: We challenge your dollar operations
And he brushed off the tariffs. "We will be entering a strong period in terms of fiscal policies", he said. "Don't give. Erdogan asked Washington. "What happened to you now?" As one of our loyal readers, we ask you to be our partner.