Turkey raises tariffs on some US imports in retaliation, says report

Turkey is likely to face another credit rating downgrade unless it takes measures to tackle rising risks of a balance of payments crisis Moody's says. AP

The political spat with Washington has added to pressure on Turkey's currency, the lira, which has plunged against the dollar. The officials said Qatar's Sheikh Tamin bin Hamad Al Thani pledged to "quickly implement" the investment package during a meeting with Erdogan in Ankara.

It is believed many Qatari investors could be at risk from a Turkish economic crisis.

The Turkish lira has dropped to record lows in recent weeks, having fallen some 42 percent so far in 2017.

Qatar on Wednesday promised to make a $15 billion direct investment in Turkey, badly hit by a currency crisis amid a widening diplomatic standoff with the United States, officials said.

Ankara imposed stiffer levies on U.S. cars, alcohol, coal and other products - $533 million in new tariffs - in response to U.S. President Donald Trump's imposition of doubled tariffs on Turkish steel and aluminum exported to the United States. The move comes amid increasing tariffs and sanctions by the U.S. against Turkey.

Turkish media reports say a Turkish court has rejected an appeal for the release of an American pastor from detention.

Turkey's banking watchdog on Wednesday limited the amount of currency swap transactions that banks can participate in by half.

The ministers responded by condemning the sanctions and claiming not to have any economic interests or properties in the United States.

"Rates have gone up by 10 percent".

He said: "If they have the iPhone, there is Samsung elsewhere".

Trump campaign says Omarosa job offer wasn't 'hush money'
Omarosa has unleashed explosive allegations about the president surrounding the publication of her tell-all memoir " Unhinged ". She declined to go into detail.

Cal Fire: Utah Firefighter Dies Battling Ranch Fire
In all, it has burned 295,970 acres, putting it on track to become the state's first single 300,000 acre fire . Crews have been able to cut containment lines around 68% of the northern California fire, Cal Fire said.

Turkey Warns the United States about Danger of Losing Strategic Partner
Do not take a stance saying, "We are bankrupt, we are done, we should guarantee ourselves.' If you do that, that would be wrong". After Brunson had been in jail for nearly 20 months, a court in July ordered him to be moved to house arrest.

The lira firmed as far as 5.75 against the dollar on Wednesday and stood at 6.030 at 1758 GMT. "They are killing offshore lira liquidity to stop foreigners shorting the lira".

The paper said the feud between Turkey and the US was "escalating".

The lira had already rebounded about 8 percent on Tuesday on news of a planned conference call on Thursday in which the finance minister will seek to reassure global investors.

The decree said the move brought tariffs to 50 percent on imports of U.S. rice, 140 percent on hard alcoholic drinks like spirits, 60 percent in leaf tobacco and 60 percent on cosmetics.

"The administration has taken decisive aggressive action, and I am so thankful", Brownback said.

Cevdet Erdol, president of the Health Sciences University in Istanbul, urged Turks to boycott US tobacco products and "to stop smoking altogether", according to Turkey's state-run Anadolu news agency. Turkey's exports to the United States previous year amounted to $8.7 billion, making it Turkey's fifth-largest export market.

The White House said Tuesday Trump was experiencing a "great deal of frustration" that Brunson has still not been released.

Trump has repeatedly tweeted his support for Brunson, describing him as a "fine gentleman", a "Christian leader in the United States" and a "respected U.S. pastor" whose continued holding by Turkey was a "total disgrace". An upper court had yet to rule on the appeal, his lawyer told Reuters.

The Eurasian country's president, Recep Tayyip Erdogan, announced on Tuesday that he would be calling for a boycott of all American electronics sold to the country's residents.

Berk Esen, an assistant professor of worldwide relations at Bilkent University in Ankara, said China was not likely to be a substitute for North Atlantic Treaty Organisation or even Russian Federation in Turkey's security.

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