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On August 10, US President Donald Trump authorized a decision to double the steel and aluminum tariffs already in place against imports from Turkey. “Aluminum will now be 20% and Steel 50%,” Trump wrote in his Twitter account.
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!
— Donald J. Trump (@realDonaldTrump) 10 August 2018
Following the announcement of new tarrifs, the exchange rate of the Turkish lira fell by more than 16% to the US dollar and once again reached the all-time low.
Earlier, President Recep Tayyip Erdogan said his country will respond to those who had started an “economic war” against it and called on Turkish citizens to not panic.
“While they have dollars, we have our people, law and Allah,” Erdogan said.
xaxaxxaxax…. go Trump go…
The steel tariff will hurt Turkey, but we really don’t import aluminum from them. We already had anti-dumping and countervailing ‘measures’ against their biggest mills up until now. Things should get better for Turkey after the citizens apply some countervailing ‘measures’ against the Erdogan clan.
You are right, the US has always been a highly protected market, try and export to America and you will see that no American company likes competition. American exports especially agricultural exports are highly subsidized to destroy any competition. If the subsidies don’t work, the US will put pressure(blackmail) on a country to buy more expensive products. The US forcing Europe to buy more expensive American gas, and forcing Iraq to buy more expensive American wheat are just 2 examples of the American racket.
Too true! Where was Iraq buying its wheat from previously?. I think it was Australia.
That’s how I know, Australia helped the USA pillage Iraq, and still they stabbed us in the back.
It seems hard Australian wheat makes better pita bread etc than American wheat. But Iraqi’s will eat what America tells them to eat.
Rothschilds just kicking the door open for Yuan currency as Sanctioned Nations exit/dump $$USD. Rothschilds and the Lord Palmerston Masonic Lodge built up China’s economic machina. CIA set up the Communism with Yale University Mao to genocide the population to ensure it went Communist.
Jeckyl Island Federal Reserve intentionally keeps Gold $$ down….so that USD $$ plays the Stock market Ponzi. Record Buy up by Corporations …their own Stock
Why would Rothschilds make it Favorable ?… for Russia and China to buy Gold,Gold,Gold! Russia and China having the Gold to back Yuan could be leverage to move Nations to exit $$USD. Rothschilds don’t make biggy huge mistakes like this, They are up to Something..
Reduce Nato contributions equal to what is lost in trade with the US and stop buying overpriced US military junk.
Quickest way to get yourself invaded or “rebels”sprouting up!
Be prepared.
This is US’s way of inflicting economic pain as they did against Russia after the Ukraine crisis, however, Russia got stronger economically, and now is toying with the delusional US. Erdogan can learn a few lessons from Putin and act accordingly. Forget what the lira is worth to the dollar, make the dollar inconsequential and trade in local currency or yuan. Trading in liras will make your products more competitive and will help you trade equitably with your trading partners. And kick US out of Incirklick and deny them access to your country, and make NATO membership conditional.
What the US is now doing to Turkey, Iran, China and Russia is tantamount to declaring war. The US did the same thing to Germany and Japan prior to the outset of WW2, even going as far as blocking the Panama Canal to Japanese merchant shipping and cutting off petroleum and steel exports as well. This is the prelude to a major shift as it will cause the “victims” of this trade war to increase their bonds of inter-cooperation, perhaps leading to an agreed dumping of the green paper pig (US$) and establishment of a new regional reserve currency. This in turn would be disastrous for the US, whose dollar value is only held in place by the collective faith of those who are afraid of its demise. When Amerika sees it is losing economically, it will turn to the only solution it knows – war!
“””When Amerika sees it is losing economically, it will turn to the only solution it knows – war!”””
America is loosing economically, and it will loose any war it tries to start to alleviate its economic demise.
The threat of American aggression is why China and Russia have been forced to increase military spending. Both China and Russia hope they can dissuade America from attacking, but we all know that those who rule America, would rather go to war than not rule the world.
Those that rule America would rather go to war than not rule the world……empires come and go, US conventional capability is presumptuous and based on the size of the defense budget, they would loose a conventional and a nuclear war….if they want to self destruct.
All true, but empires always fall in battle. The nut jobs that rule America don’t care how many people die, if 90% of the American population were to die, they would simply import more people. The people are irrelevant, just look at Haiti, they still make a buck out of the place, and that’s all that matters to these people.
Your namesake did a rave about the money changers, so they killed him.
If the nut jobs don’t die, their financial and economic infrastructure will be destroyed forever. Therefore, the nut jobs have to consider that reality when they decide to start a war. Right now they are all blowing hot air, oblivious of existing military reality.
Who cares about financial infrastructure, when you own all the means of making money. The rich all have assets that cannot be destroyed, like land and gold, the dollars are just paper, and the banks just buildings, they are just the cream.
Owning the means to make the money means you have to have a financial infrastructure that needs the money you are creating of thin air. Destroy that infrastructure and you have a deluge of dollars that will find its way to US. Destroy Wall Street and the Fed and see what happens to the dollar. Most American billionaires are billionaires because of companies they own( with overvalued stock), or stock positions in certain companies they control……so they are tied up in paper; yea they are buying land in New Zeeland and Australia, gold is not high on their agenda.
A guy who digs up copper or gold, and the guy who grows wheat will be able to swap the food or minerals for whatever the world is using for trade. That’s why the oligarchs own all the big farms and mines.
The world and the human race existed long before the current monetary system and its infrastructure. Your namesake and others got by without banks and stock markets. Our current financial system is not a force of nature like wind or rain, it’s man made, and nothing man made lasts forever.
I agree with your analysis, the world has to go back at least 100 years, population today is very fragile and dependant on technology, I do not see them being able reinvent themselves and live in a different mode. Every empire devalued their coinage and ended up with economic ruin, the elites that owned the land or mines had to have the means to protect them and utilize them. In the days of Jesus, Jews lived under Roman occupation accepting their laws and coinage. Rome had banks and a coinage based on gold appropriated from conquered countries.
Yes because it is cost -free. Those who rule America never send their sons to war. It is always the rednecks,poor people and foolish belligerants who get sent off to fight and die. So to the elite of America it is all cream; if we win we get richer and more powerful,if we lose well we will reach a settlement and still keep our positions. Either way ,their sons do not get killed nor their daughters raped.
Introduce a cost and then we will see. Punishment battalions built of patriots will be a start.