Trump doubles tariffs on Turkey, stoking jitters

    President Donald Trump speaks during a meeting with Dutch Prime Minister Mark Rutte in the Oval Office of the White House, Monday, July 2, 2018, in Washington. (AP Photo/Evan Vucci)

    ANKARA, Turkey (AP) — President Donald Trump says he's just authorized the doubling of steel and aluminum tariffs "with respect to Turkey."

    Trump says via tweet that the tariff on aluminum imports will be increased to 20 percent and the tariff on steel imports will be raised to 50 percent as the Turkish Lira "slides rapidly downward against our very strong Dollar!"

    Trump is also declaring that, "Our relations with Turkey are not good at this time!"

    The United States slapped sanctions on two Turkish officials earlier this month over a detained American pastor who is being tried on espionage and terror-related charges.

    Turkey vowed retaliation "without delay" and warned the move would further harm relations between the two allies.

    Turkey's President Recep Tayyip Erdogan announces plan of action for the first 100 days of his new presidency, in Ankara, Turkey, Friday, Aug. 3, 2018. (AP Photo/Burhan Ozbilici)

    Trump's tweet caused a further drop in the Turkish currency, which is now down 13 percent on the day.

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