Turkey Doubles Tariffs On U.S. Imports Over 'Attacks' On Its Economy

Turkish President Tayyip Erdogan attends a news conference in Ankara Turkey August 2018

Turkish President Tayyip Erdogan attends a news conference in Ankara Turkey August 2018

Turkey doubled tariffs on U.S. passenger cars, alcohol and tobacco amid increased tension between the two North Atlantic Treaty Organisation allies over Ankara's imprisonment of a pastor and other diplomatic issues.

The decision came a day after President Recep Tayyip Erdogan said Turkey would boycott U.S. electronic goods, singling out iPhones.

The move comes amid increased tension between the two North Atlantic Treaty Organisation allies over Ankara's imprisonment of a pastor and other diplomatic issues.

President Donald Trump announced on Twitter last Friday that he would double the tariffs on steel and aluminum imports from Turkey.

In a decision announced in the Official Gazette, Ankara said August 15 it was imposing extra tariffs on imports of products, including rice, tobacco products, vehicles, alcohol, coal and cosmetics.

Tariffs were also doubled on goods such as cosmetics, rice and coal.

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"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 later on Twitter.

Markets are concerned by Erdogan's influence over the economy and his resistance to interest rate increases to tackle double-digit inflation.

The political spat with Washington has added to pressure on Turkey's currency, the lira, which has plunged against the dollar.

Turkey has accused the United States of waging an "economic war" as part of a plot to harm the country.

Erdogan said on Tuesday Turkey would boycott U.S. electronic products as the row escalated.

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