Tariffs on Turkish imports ‘pose serious risks’ for US
Raising tariffs on imports from Turkey “poses serious risks” for the United States, an official at the U.S. Chamber of Commerce said Tuesday.
Publish date : Wednesday 15 August 2018 11:54
In a statement, Myron Brilliant, executive vice president and head of international affairs, said the Chamber of Commerce has warned for months that “alienating our allies in a tit-for-tat trade war would harm the U.S. economy and undermine American global leadership, and evidence of that harm to U.S. workers, farmers, and businesses is mounting”.
President Donald Trump announced on Twitter last Friday that he would double the tariffs on steel and aluminum imports from Turkey.
The two countries have been close allies for more than 60 years while Turkey has been a strong member of NATO.
"Recent developments in the U.S.-Turkey relationship threaten both countries' economic interests and put at risk an alliance that has proven its value over decades," Brilliant said.
"Actions that heighten these tensions risk spreading today's financial challenges to other emerging markets, to European banks, and, ultimately, to the U.S. economy.”
The U.S. Chamber of Commerce has been home since 2013 to the U.S.-Turkey Business Council, which represents more than 60 of the largest American companies doing business in Turkey, according to the statement.