Turkish Currency Collapses After Trump Doubles Metals Tariffs

Turkish Currency Collapses After Trump Doubles Metals Tariffs
People look at foreign exchange rates in Ankara, Turkey, on Aug. 10, 2018. Adem Altan/AFP/Getty Images
Ivan Pentchoukov
Updated:

The Turkish lira hit a record low on Aug. 10 after President Donald Trump authorized the doubling of tariffs on imports of Turkey’s steel and aluminum.

The currency slid nearly 8 percent in relation to the dollar to a record low of 6.59 shortly after Trump announced the increase on metals duties on Twitter.

Ivan Pentchoukov
Ivan Pentchoukov
Author
Ivan is the national editor of The Epoch Times. He has reported for The Epoch Times on a variety of topics since 2011.
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