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Turkey doubles tariffs on some US imports

| Updated: September 01, 2018 13:36:42

Turkey doubles tariffs on US products

Turkey has doubled tariffs on some US imports, such as passenger cars, alcohol and tobacco, in what its vice president said was a response to deliberate US attacks on the Turkish economy.

The move comes amid increased tension between the two NATO allies over Ankara’s imprisonment of a pastor and other diplomatic issues.

Last Friday, US President Donald Trump said he had authorised higher tariffs on aluminium and steel imports from Turkey, reports Reuters.

A decree published in Turkey’s official gazette and signed by President Tayyip Erdogan doubled the tariffs on passenger cars to 120 per cent, on alcoholic drinks to 140 per cent and on leaf tobacco to 60 per cent. Tariffs were also doubled on goods such as cosmetics, rice and coal.

“The import duties were increased on some products, under the principle of reciprocity, in response to the US administration’s deliberate attacks on our economy,” Vice President Fuat Oktay wrote on social network Twitter.

The row with Washington has helped drive the lira TRYTOM=D3 to record lows, with the Turkish currency losing more than 40 per cent of its value against the dollar this year.

Erdogan said on Tuesday Turkey would boycott US electronic products as the row escalated.

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