Turkey Increases Tariffs on U.S. Goods, Ratcheting Up Feud

Turkey said Wednesday it will increase tariffs on a string of U.S. imports in retaliation for what Ankara has described as Washington’s “economic attacks.” In an announcement published in the Official Gazette, Ankara said the additional tariffs would apply to U.S. goods including rice, vehicles, alcohol, coal, and cosmetics. Vice President Fuat Oktay said on Twitter that the tariffs would be imposed “within the framework of the principle of reciprocity in retaliation for the conscious economic attacks by the United States.” President Trump on Friday announced a doubling of tariffs on Turkish goods, with 50 percent to be levied on steel products and 20 percent on aluminum. That news sent the Turkish lira plunging to record lows. In addition to Ankara’s increased tariffs on U.S. goods, Turkish President Recep Tayyip Erdogan has also called for a boycott of U.S. electronics to get revenge for what he has said is an “economic war” being waged by Washington.