The Trump administration's original move in March to raise tariffs on moststeel and aluminum imports was proposed to safeguard USA jobs against overseas rivals.
"Their currency, the Turkish lira, slides rapidly downward against our very strong dollar!" In addition to the steep drop in the Turkish Lira, which effectively reduces the impact of the tariffs, the US has so far been unsuccessful in persuading Turkish President Recep Tayyip Erdoğan to release USA pastor Andrew Brunson.
The Turkish foreign ministry hit back at Trump's comments, saying that the "only result will be harming our relationship" and vowing unspecified retaliation.
Trump's announcement saw the Turkish lira drop even further, crashing to a 19 percent daily loss against the greenback.
The lira tumbled about 10 per cent on Friday to another record low as investors worry about Erdogan's unorthodox economic policies and U.S. sanctions.
Oil Prices Hit 7-Week Low As Trade War Heats Up
Oil price rose today amid reports that the USA restored sanctions against Iran, the world's fifth-largest oil producer. Iran is the third-largest producer among the members of the Organization of the Petroleum Exporting Countries (Opec).
The Turkish lira hit a record low of 6.24 per dollar on Friday, before recovering to 5.92 _ still down a whopping 7 per cent on the day.
Despite mounting pressure to reassure investors, president Erdogan yesterday remained defiant, stating that Turkey would prevail in an "economic war" while calling on Turks not to panic or "bow in front of economic threats".
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. Trump said in an early morning post on Twitter.
Turkey also wants the United States to extradite Fethullah Gulen, a Pennsylvania-based Muslim cleric who Turkish authorities say masterminded the coup attempt against Erdogan in which 250 people were killed.
The lira's plunge has featured remarkably little on Turkish television channels and newspapers - most of which after recent ownership changes are loyal to the government - with media focusing instead on recent flooding by the Black Sea.
The currency slid almost 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. In the past, Trump has threatened to impose trade barriers on countries that deliberately push down the value of their currencies, so as to make their goods cheaper for American consumers (and thus, more competitive than the wares of US manufacturers).
Turkey, home to the Incirlik air base which is used by USA forces in the Middle East, has been a North Atlantic Treaty Organisation member since the 1950s and a close ally of the United States.
Federal prosecutors accused Atilla of conspiring with gold trader Reza Zarrab and others to elude USA sanctions using fraudulent gold and food transactions. On Friday, he said the country had to take steps in answer "to those who have waged an economic war against us". An IMF offer will come with strings attached - strings that Erdogan may find a violation of sovereignty - including demands to rein in the country's runaway inflation with higher interest rates. "Don't worry", Erdogan told a crowd in the northeastern city of Bayburt.
"If they have their dollar, we have the people, we have Allah, " he said.
Treasury and Finance Minister BeratAlbayrak - who is Erdogan's son-in-law - was scheduled later on Friday to outline a 'new economic model'.
Samar Badawi is the sister-in-law of Raif Badawi's wife Ensaf Haidar, who lives in Canada and recently became a Canadian citizen. The move follows vigorous calls by Canada for the immediate release of activists that have been detained.
The 20-year-old went on tour with Jose Mourinho 's side in the United States but could be set to gain experience elsewhere. In the 2016/17 campaign, Vietto played for Sevilla and a year ago he played the second half of the season for Valencia .
She will be replaced by Ramon Laguarta , the company's president, who will become the company's sixth CEO in its 53-year history. Laguarta, 54, was named president of the company in September a year ago and was tipped to succeed Nooyi.
The weekend arson attacks came as Gaza's Hamas rulers were reportedly considering a long-term ceasefire deal with Israel. The coalition said Friday that the Swedish-flagged vessel, Freedom, was almost 60 miles (95 kilometers) off the coast.
The result is that both China and the U.S. are now using government funds to stimulate areas of the economy . Many of these goods are agriculture-related and others relate to various metals and chemicals .
A Spanish man was on Monday (Aug 6) sentenced by the court to 10 years behind bars for repeatedly sexually abusing the young boy. In the following months, the court said, the woman organized assaults on a 2-year-old girl she occasionally looked after.
Trump's days of private anger spilled out into public with the Twitter outburst, which comes at a perilous time for the president. The problem is as Trump's defenders want to say all the time except when they don't want to say it, collusion's not a legal term.
How to see the Perseid meteor shower peak this weekend
That's when the earth will have turned into the meteor stream, which means the show will be just above the horizon line. Although the shower peaks on August 12, you'll be able to see a good deal of shooting stars all weekend and into Monday.
Mourinho closes door on Pogba exit
Mourinho has signed Brazil midfielder Fred this summer, though, which should help free up Pogba's role as a more attacking threat. However, the offer is much lower than you might expect for a player of the talent, age, valuation and profile of Paul Pogba .
USA mid-term elections: Trump claims win in key OH vote
Trump's tweet backing Georgia Republican governor hopeful Brian Kemp vaulted him to an easy primary runoff win two weeks ago. In Michigan, three mainstream Democrats in suburban Detroit were among those vying for a chance at retiring Republican Rep.