BREAKING: Trump’s Tariffs Announcement Has Just Devastated Turkey!! Look What Just Happened To Their Currency!

On Friday President Trump announced the U.S. would be doubling tariffs on steel and aluminum imports from Turkey.

https://twitter.com/realdonaldtrump/status/1027899286586109955?s=21


The fallout on the Turkish currency was immediate.

https://twitter.com/business/status/1027901207829008384?s=21


As reported by money.cnn.com
Worries over a fragile Turkish economy and the risk of contagion in Europe unnerved investors on Friday and sent the lira to a record low against the US dollar.
The Turkish currency plummeted as much as 17% against the dollar, reflecting a range of concerns, including tensions with the United States and the unwillingness of Turkish authorities to raise interest rates.
President Donald Trump, who imposed sanctions on senior Turkish officials earlier this month for their role in the detention of an American pastor, upped the stakes on Friday with a promise to increase metals tariffs on Turkey.

Turkish President Recep Tayyip Erdogan was defiant.
"Don't forget this: if they have dollars, we have our people, justice and God," he said. "We will come out of the economic war successfully."


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Posted Friday, August 10, 2018

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