ERBIL, Kurdistan Region – Ankara has raised tariffs on a raft of imported US products by as much as 140 percent amid a worsening diplomatic spat.
The new Turkish tariffs cover fresh or dried fruits (up 20 percent), rice (up 50 percent), alcoholic drinks over 80 proof (up 140 percent), tobacco (up 60 percent), make-up (up 60 percent), PVC (up 50 percent), plastic (up 60 percent), paper and cartoon boxes (up 50 percent) and vehicles (up 120 percent).
The new tariffs are together worth an additional $533 million, according to Turkish Trade Minister Ruhsar Pekcan.
Speaking at a symposium organized by the Foundation for Political, Economic and Social Research (SETA) on Tuesday, Erdogan said Turkey will boycott American electronics.
He also accused Washington of weaponizing the economy.
“They do not hesitate to use the economy as a weapon against us, as they [also] tried in the diplomatic or military field, and efforts to sow social and political instability,” he added.
The new Turkish tariffs cover fresh or dried fruits (up 20 percent), rice (up 50 percent), alcoholic drinks over 80 proof (up 140 percent), tobacco (up 60 percent), make-up (up 60 percent), PVC (up 50 percent), plastic (up 60 percent), paper and cartoon boxes (up 50 percent) and vehicles (up 120 percent).
The new tariffs are together worth an additional $533 million, according to Turkish Trade Minister Ruhsar Pekcan.
The measures, signed off by Turkish President Recep Tayyip Erdogan and published int the Official Gazette early on Wednesday, come in response to similar US tariffs on steel (up 50 percent) and aluminum (up 20 percent).
Washington imposed these measures after Ankara refused to release US pastor Andrew Brunson, who is being held under house arrest on terrorism charges. The US move caused the already struggling lira to nosedive against the dollar. The new tariffs announcement did not harm the currency further, however. It rallied over five percent against the dollar on Wednesday morning.
"Tax rates on imports of some products have been increased on a reciprocal basis against the US administration's deliberate attacks on our economy," Vice President Fuat Oktay said on Twitter, Anadolu reports.
Erdogan's spokesman Ibrahim Kalin told journalists: "Turkey is not in favor of an economic war with anyone but when attacked ... will take all necessary steps."
Erdogan has called the US tariffs an “economic war”.
Speaking at a symposium organized by the Foundation for Political, Economic and Social Research (SETA) on Tuesday, Erdogan said Turkey will boycott American electronics.
He also accused Washington of weaponizing the economy.
“They do not hesitate to use the economy as a weapon against us, as they [also] tried in the diplomatic or military field, and efforts to sow social and political instability,” he added.
The Emir of Qatar is visiting Turkey on Wednesday in an apparent show of solidarity. The two states have enjoyed closer ties in recent years, particularly after Turkey took Qatar's side in the ongoing Gulf Cooperation Council (GCC) dispute.
Erdogan is scheduled to hold a phone call with German Chancellor Angela Merkel later on Wednesday, and with French President Emanuel Macron on Thursday, Turkish presidential spokesperson Ibrahim Kalin told journalists.
Last updated 2.40 p.m.
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