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Trump announces ‘doubling’ of tariffs on steel, aluminum from Turkey

WASHINGTON: US President Donald Trump said Friday he had doubled steel and aluminum tariffs on Turkey, adding to pressure on that nation's troubled economy amid a diplomatic row with Washington. "I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!" Trump said on Twitter. "Our relations with Turkey are not good at this time!" Trump's announcement came as Turkey's embattled lira hit new…

U.S. allies hit back at Washington’s steel, aluminum tariffs

WASHINGTON/PARIS: Canada and Mexico retaliated against the U.S. decision on Thursday to impose tariffs on steel and aluminum imports and the European Union had its own reprisals ready to go, reigniting investor fears of a global trade war. The tariffs, announced by U.S. Commerce Secretary Wilbur Ross in a telephone briefing on Thursday, ended months of uncertainty about potential exemptions and suggested a hardening of the Trump administration’s approach to trade negotiations. The measures, touted by President Donald…

Trump defiant after criticism of steel and aluminium tariffs

BRUSSELS/BEIJING: U.S. President Donald Trump said on Friday trade wars were good and easy to win, striking a defiant tone after global criticism of his plan to slap tariffs on imports of steel and aluminium that triggered a slide in world stock markets. The European Union pledged firm counter-measures, China urged Trump to show restraint and Canada, the biggest supplier of steel and aluminium to the United States, said it would retaliate if it is hit by U.S. duties. Trump said on Thursday that tariffs of 25 percent on…