Publish date15 Aug 2018 - 10:42
Story Code : 351116

Turkey increases tariffs on U.S.-origin products

In a decision announced in the Official Gazette, Ankara said Aug. 15 it was imposing extra tariffs on imports of products, including rice, tobacco products, vehicles, alcohol, coal and cosmetics.
Turkey increases tariffs on U.S.-origin products
According to the decision, the rate of increase in tariffs is as high as 120 percent, depending on the product.
Turkey’s Vice President Fuat Oktay said on Twitter that the tariffs on certain products were increased "within the framework of the principle of reciprocity in retaliation for the conscious economic attacks by the United States."
Turkey has accused the U.S. of waging an "economic war" as part of a plot to harm the country.
Washington has imposed financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey, as U.S. President Donald Trump tries to secure the release Andrew Brunson, an American pastor being tried in Turkey on espionage and terrorism-related charges.
The decision to impose new tariffs came a day after President Recep Tayyip Erdoğan said Turkey would boycott U.S. electronic goods, singling out iPhones. He suggested Turks would buy local or Korean phones instead, although it was unclear how he intended to enforce the boycott.
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