Archive and Content Search
Tariffs on Turkish steel are now up to 50% after an executive order announced by President Donald Trump on Monday. The move comes in retaliation after Turkish armed forces launched an offensive against Kurdish troops, considered U.S. allies, who aided in the efforts to eliminate ISIS in Syria. The offensive was launched after the U.S. announced that it would be removing its troops from Syria.
The 50% tariff rate was the level prior to a reduction in May. The administration also announced that it would immediately stop negotiating with respect to a $100 billion trade deal with Turkey. Further sanctions will follow, according to Trump, who released a statement reading, “This order will enable the United States to impose powerful additional sanctions on those who may be involved in serious human rights abuses, obstructing a ceasefire, preventing displaced persons from returning home, forcibly repatriating refugees, or threatening the peace, security, or stability in Syria.”
