Arthur J. Villasanta – Fourth Estate Contributor
Ankara, Turkey (4E) – Turkey yesterday hit back hard at the United States by doubling or more than doubling tariffs on a range of U.S. imports, including cars and alcohol.
Among the hardest hit by Turkey’s new import taxes are American spirits, which will pay 140 percent more and cars, whose taxes will rise by 120 percent. Turkey also imposed a 60 percent tariff on leaf tobacco and a 50 percent tariff on rice. There are also additional taxes on U.S. cosmetics and some food products.
The items hit by Turkey’s new tariffs and listed in the country’s Official Gazette accounted for $1 billion of U.S. imports to Turkey in 2017. This amount is similar to the amount of Turkish steel and aluminum exports subjected to higher tariffs by Trump last week.
The decision shows Turkey initiating a proportionate response to American attacks on the Turkish economy, tweeted Vice President Fuat Oktay. In the same tweet, Oktay said tariffs on certain products were increased “within the framework of the principle of reciprocity in retaliation for the deliberate economic attacks by the United States.”
Turkey’s escalation is the latest in an increasinghly virulent spat that’s mangled the once close ties between Ankara and Washington. It follows Turkish president Recep Tayyip Erdogan’s call on Tuesday for a boycott of U.S. electronics, including Apple iPhones, to retaliate for the Trump administration’s punitive actions to pressure Turkey into releasing American pastor, Andrew Brunson. The American is being tried in Turkey on espionage and terrorism-related charges.
As part of these actions, Washington last week imposed financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey.
Article – All Rights Reserved.
Provided by FeedSyndicate