Reuters:
Turkey doubled tariffs on some U.S. imports including alcohol, cars and tobacco on Wednesday in retaliation for U.S. moves, but the lira rallied further after the central bank’s liquidity moves had the effect of supporting the currency.
Ankara acted amid increased tension between the two NATO allies over Turkey’s detention of a Christian American pastor and other diplomatic issues, which have helped send the lira tumbling to record lows against the dollar.
The currency TRYTOM=D3 has lost nearly 40 percent against the dollar this year, driven by worries over President Tayyip Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation.
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The more noteworthy part of this feud, I believe, is how the US is pushing Turkey and some others to the domain of Russia. Clearly, the prime winner of this last election in the US has been Russia as we see its power and sphere of influence growing rapidly just as the US influence is shrinking.
I have always believed a bi-polar power in the world is better for the world peace. I had never thought that it would come so soon and with so much decline in the US power/influence.
Muller is making America great again
tRump is helping to make Russia great again
Reject occupation, If the bar code starts with 7 29 put it back on the shelf
Buy American, say NO to Chinese madeTrump
“The time is always right to do what is right” – Martin Luther King