Thursday, 20 September, 2018

Turkey increases tariffs on some USA imports, escalating feud

Turkey raises tariffs on US-origin products Turkey to boycott US electronic goods
Rhonda Young | 16 August, 2018, 20:25

Tariffs on American cars were doubled to 120 percent while tariff on alcoholic drinks to 140 percent.

In response to Trump's tariffs, Turkish officials said they will impose a 50 percent tax on US rice, 140 percent on spirits, 60 percent on tobacco and 120 percent on cars while increasing duties on a variety of other goods.

Turkey should commit to sound economic policies to promote stability and reduce imbalances at a time of market volatility, an International Monetary Fund (IMF) spokesperson said on Wednesday as a row between Washington and Ankara over the jailing of an American pastor dragged on.

The White House on Wednesday condemned Turkey's move tariffs, calling the action "a step in the wrong direction".

The growing tensions between Washington and Ankara have sent the Turkish currency tumbling to historic lows.

Lira has lost around 40% against the U.S. dollar this year, due to worries over Erdogan's growing control over the economy and his repeated calls for lower interest rates despite high inflation.

Keith Hernandez supports drilling Acuna: 'You've got to hit him'
Acuna had hit leadoff homers in his three previous games, all against the Marlins, including a doubleheader Monday. Acuña entered having homered in a Braves franchise record tying five straight games.

Meanwhile Turkish Foreign Minister Mevlut Cavusoglu said on Wednesday that Ankara is ready to discuss its ongoing issues with the United States as long as there are no threats.

The Turkish lira briefly firmed at 5.86 from 6.04 to the dollar, but later fell to 6.02.

Turkey's Vice President Fuat Oktay wrote on Twitter that the doubling of tariffs was done "under the principle of reciprocity", in response to America's "conscious attacks on our economy".

'If (the United States) have the iPhone, there's Samsung on the other side, ' he said, referring to USA giant Apple's iconic phone and the top South Korean brand.

The lira had nosedived in recent weeks, hitting 7.24 last week, amid a diplomatic and trade dispute with the United States. Turkey's exports to the United States past year amounted to $8.7 billion, making it Turkey's fifth-largest export market.

In one of the videos circulating online in Turkey, which have been picked up by the country's online news organizations, an unidentified man with four boys kneeling behind him in front of a Turkish flag, addresses the US leader directly, asking Mr. Trump, "who do you think you are?" Brunson's lawyer told CBS News that a higher court was still considering the appeal and could overrule that decision.

United Kingdom unemployment drops to February 1975 low
After increasing sharply during the financial crisis, the UK's unemployment rate has been rapidly dropping for nearly a decade. Wage growth excluding bonuses slowed to 2.7%, the weakest since January, but still ahead of the 2.4% rate of inflation.

On Wednesday, a court rejected an appeal for Brunson to be released from house arrest.

Turkey announced earlier to slap tariffs on American goods. Turkey retaliated with some $533 million of tariffs on some USA imports - including cars, tobacco and alcoholic drinks - and said it would boycott us electronic goods, singling out Iphones.

In another high-profile case, a Turkish court ruled on August 15 to release from jail Taner Kilic, the local chair of Amnesty International, a researcher from the rights group said.

Measures taken by Turkey's central bank also helped the lira rebound, such as cracking down on foreigners aiming to short the currency.

The Turkish president said: "If they have the iPhone, there is Samsung elsewhere".

"Rates have gone up by 10 percent".

Engility Completes Validation Work of NASA Solar Probe Program
The media reported on every aspect of this mission, from its name, which is given after a living person solar physicist Dr. Once it reaches there, the craft will use its heat shield to protect itself as well as the autonomous cooling system.

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