giftedviz.com
giftedviz.com December 16, 2018


Trump doubles steel and aluminum tariffs on Turkey

12 August 2018, 06:42 | Darnell Patrick

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters File

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters  File

The Turkish strongman also said his country's partnership with the United States may be in jeopardy, warning Ankara could start looking for new allies in an op-ed in the New York Times. Earlier it had fallen as much as 22 per cent.

On Saturday, Erdoğan said it was a pity the U.S. was choosing Brunson over its strategic North Atlantic Treaty Organisation ally.

The tumult also affected Wall Street, which finished the week on a sour note, with the Dow Jones, S&P 500 and Nasdaq all finishing down yesterday.

The defiant tone and war rhetoric only hurt the lira more, before Erdogan's finance chief and son-in-law, Berat Albayrak, tried to ease investor concerns during a conference, saying the government would safeguard the independence of the central bank.

"If there is anyone who has dollars or gold under their pillows, they should go exchange it for liras at our banks", he said during an address to supporters.

"This is a domestic and national struggle", Erdoğan said, according to The Associated Press.

Turkey, he wrote, could turn to "other friend and allies", if the USA continued its more hawkish policy vis a vis Ankara, without elaborating who those friends and allies would be.

Erdogan, whose typical defiance in the face of the crisis has further unnerved investors, appealed to Turks' patriotism and urged support for their free-falling currency.

This came in the wake of sanctions imposed by Mr Trump for Turkey's refusal to free pastor Andrew Brunson, who the nation detained on terror charges despite the insistence of the United States he is innocent.

Apple allows U.S. conspiracy theorist's app on App Store
The company is also evaluating whether it should consider "off-platform behavior" when enforcing policies. By its own admission, Twitter's content policies remain a work in progress.


Extraordinary audio of the Seattle hijacker conversation with air traffic controller
A Horizon Air airplane was stolen from SeaTac Airport on August 10, 2018 and crashed on Ketron Island where it sparked a fire. There was no indication that the incident was an act of terror, the Pierce County Sheriff's Department said on Twitter.


Unmanned NASA craft takes off on mission towards Sun
NASA chief of the science mission directorate, Thomas Zurbuchen, said Parker is an "incredible hero of our scientific community". It is said to endure unprecedented levels of heat, and radiation 500 times greater than that experienced on Earth.


President Donald Trump announced in a tweet that he would be increasing the rate of existing tariffs against Turkey, as the value of the Turkish lira plunges.

The currency's drop - 41 percent so far this year - is a gauge of fear over a country coming to terms with years of high debt, worldwide concern over President Recep Tayyip Erdogan's push to amass power, and a souring in relations with allies like the U.S. Inflation increased 16 percent in July, and Erdogan has insisted that interest rates not increase.

"Those who challenge a country like Turkey for the sake of petty calculations will pay a price both in our region and in their own politics", the Turkish leader said.

Turkey's currency crisis spilled loudly on to the global stage Friday as other markets, including U.S. stocks, took at hit from concern about financial contagion to other countries and banks.

On Friday, Erdogan spoke by telephone with Russian President Vladimir Putin.

It added that Trump's remarks were "not possible to reconcile with state seriousness".

Meanwhile, markets are deeply concerned over the direction of economic policy under President Recep Tayyip Erdogan, with inflation at almost 16%, but the central bank reluctant to raise rates in response.

Canada's main stock index also fell on Friday.

But Erdogan vowed there would be no easing of the law in Brunson's case, saying: "We have not made concessions on justice so far, and we will never make any". His comments suggest that the Turkish central bank does not act with full independence, CNBC reported on Friday.



Other News

Trending Now

Emery in spotlight as Arsenal begin life without Wenger
People ask how will they do, but I know a little bit about the manager and in that situation how good they handle that". Arsenal have won just two of their last 12 encounters with Man City in all competitions.

Look up: Perseid meteor shower peaks this weekend
Friday and Saturday night, where visitors can look through the telescope to view Jupiter, Saturn, Mars, and potentially Venus. The meteor shower is formed from the debris from the Swift-Tuttle comet as the tiny debris enters the Earth's atmosphere.

Space Force: Prez Trump 2020 asks supporters to vote on logo
Defense Secretary Jim Mattis , once opposed the idea of a Space Force , they lined up on Thursday to offer their support. Kosal , an associate professor in the Sam Nunn School of International Affairs at the Georgia Institute of Technology.

Maurizio Sarri: 'I must adapt to Chelsea'
But the Spaniard just looked a yard off pace from the start with sloppy passing and some poor first touches. Chelsea beat Huddersfield Town 3-0 to give Maurizio Sarri a winning start as manager of the Blues.

Trump Calls Omarosa A 'Lowlife' Ahead Of Her Book Release
Manigault Newman went on to become Assistant to the President and Director of Communications for the Office of Public Liaison. White House press secretary Sarah Sanders said: 'This book is riddled with lies and false accusations.

Chinese state media accuse US of mobster mentality, vow to fight tariffs
Element Electronics, a TV manufacturing plant in SC , will layoff at least 126 employees from its Winnsboro plant on October 5th. The government could force Apple into a corner, helping Samsung and local Chinese companies pick up market share in the process.

Man City midfielder set for deadline day Wolves move
Last season's Championship title winners are ready to trigger the 22-year-old's release clause to push the deal over the line. Wolverhampton Wanderers have signed winger Adama Traore from Middlesbrough on a five-year contract.

Silva hoping to profit from Everton's spending power
Real Madrid was already pursuing the Belgium goalkeeper before striking the €35-million ($52.45-million) fee with Chelsea. The move however irked Guardiola who labelled Napoli president, Aurelio De Laurentiis' decision as unprofessional.

Finau ties PGA Championship record with 10 birdies
Built like a boxing heavyweight, no-one could lay a glove on him on this course that plays into the hands of the big hitters. At times he looked and seemed and played younger than his age on a day when he had to play 29 holes in unbearable heat.

Tesla shareholder tells IGTV he’s 'not thrilled' about the take-private plan
Musk said via Twitter on Tuesday that the deal was contingent on a shareholder vote but that "investor support is confirmed". Mr Musk tweeted on Tuesday that he had secured funding for the plan, but he has not provided details or evidence.