president: The U.S. imports about 1 billion in steel and aluminum from Turkey, so the direct impact is not likely to be substantial, according to The Toronto Star. U.S. President Donald Trump, left, speaks with Turkey's President Recep Tayyip Erdogan ahead of the opening ceremony of the NATO summit its headquarters in Brussels in July. In a tweet, Trump said he had just authorized a doubling of tariffs against Turkey, upping those on aluminum to 20 per cent and steel to 50 per cent. Trump's order deepens a growing political and economic rift between the two allies. Without mentioning Trump by name, Turkey's president, Recep Tayyip Erdogan, denounced the U.S. in a speech Friday in the Black Sea town of Rize. Ludovic Marin / The Associated Press But the ripple effects were considerable as the Turkish currency, the lira, plummeted on the news, pushing the country closer to a full-blown economic crisis, and dragging the euro down sharply Friday.
(news.financializer.com). As
reported in the news.
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