Trump just tweeted that he’s doubling steel and aluminum tariffs for Turkey as our relations with them are not good!
Trump wrote: “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!”
Here’s the tweet:
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!— Donald J. Trump (@realDonaldTrump) August 10, 2018
Trump doesn’t mention Andrew Brunson in the tweet, but given what he and Pence have recently said in the past, I think that’s gotta be what this is about. Which is awesome.
NBC News agrees that it’s about Brunson:
JUST IN: As Turkish lira slides, President Trump declares in a tweet that he is further sanctioning Turkey amid ongoing public dispute over Turkey's detainment of an American pastor.— MSNBC (@MSNBC) August 10, 2018
The Turkish lira is already in pretty bad shape since Erdogan won his recent election and this is bound to make it worse.
Her’s another tweet that gives you some idea what’s happening in Turkey:
Turkey Meltdown— Fox News Research (@FoxNewsResearch) August 10, 2018
•Recent expansion fueled by foreign debt
•Govt deficit to top 6% of GDP
•European Central Bank concerned about exposure
•Stock market -19.5% since Feb
→ Down +35% YTD
→ Hit an all-time low vs the USD
And that was before Trump made his announcement…
And here’s even more on how bad the lira is doing. Again, before Trump’s announcement:
The Turkish lira added to its steep losses Friday after Turkish President Erdogan asked citizens to convert their dollars and other foreign currencies as well as gold holdings to local lira. https://t.co/rdSjWTPMpW pic.twitter.com/NUXIgMuvF8
— CNBC (@CNBC) August 10, 2018