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Trump brings Erdogan to his knees, doubles tariffs as ally turns foe

US President Donald Trump brought his Turkish counterpart Recept Tayyip Erdogan to his knees on Friday afternoon. While Turkish Finance Minister and Erdogan’s son-in-law was revealing an admittedly weak plan on how to save the economy, Trump announced he doubles tariffs on Turkish steel and aluminum.

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>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! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!</p>&mdash; Donald J. Trump (@realDonaldTrump) <a href=”https://twitter.com/realDonaldTrump/status/1027899286586109955?ref_src=twsrc%5Etfw”>August 10, 2018</a></blockquote>
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This is the next level of sanctions the US administration imposes on Turkey due to the ongoing imprisonment of American Pastor Andrew Brunson. Last week,  Washington imposed sanction on Turkish ministers of Justice and Interior accuisng them of serious human rights violation on Brunson’s case.

Brunson was arrested three months after the failed coup of 2016 and remains in detention. Ankara accuses him of being involved in hostile actions by allying with coup plotters and also Kurdish separatists.

Trump’s bombshell was dropped right in the middle of  another day where the Turkish Lira was under immense pressure. It was losing 10-12% towards the US Dollar and the Euro.

After Trump’s tweet, it lost 19% towards the dollar.

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Turkey is the world&#39;s 9-largest <a href=”https://twitter.com/hashtag/steel?src=hash&amp;ref_src=twsrc%5Etfw”>#steel</a> exporter — and the US is its main buyer. <a href=”https://twitter.com/hashtag/commodities?src=hash&amp;ref_src=twsrc%5Etfw”>#commodities</a> <a href=”https://twitter.com/hashtag/METL?src=hash&amp;ref_src=twsrc%5Etfw”>#METL</a> <a href=”https://t.co/JX0djFfhLz”>pic.twitter.com/JX0djFfhLz</a></p>&mdash; Javier Blas (@JavierBlas) <a href=”https://twitter.com/JavierBlas/status/1027902362936115202?ref_src=twsrc%5Etfw”>August 10, 2018</a></blockquote>
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Short before Trump’s tariffs announcement, Erdogan had addressed his people and said the country was the victim of an economic war. “They have their dollars, we have our Allah,” he said while the Tukrish Lira was  in free fall since the morning. The currency has lost more than 20% in a week.

Hundreds of Turkish internet users attacked Donald Trump, with at least one threatening him with …war, even though an economic and diplomatic one.

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>do you want war?<br><br>You will lose.<br><br>Now All Turkish citizens hate you.<br>Turkish goverment will block USA products<br>Turkish citizens will not buy USA products(<a href=”https://twitter.com/hashtag/iphone?src=hash&amp;ref_src=twsrc%5Etfw”>#iphone</a>,<a href=”https://twitter.com/hashtag/computers?src=hash&amp;ref_src=twsrc%5Etfw”>#computers</a>….)<br>NATO will be under risk<br>USA forces in turkish will non persona grata<br>İncirlik will close <a href=”https://t.co/r4MZpXiDfn”>pic.twitter.com/r4MZpXiDfn</a></p>&mdash; Hüseyin Çelik (@HuseyinCelik99) <a href=”https://twitter.com/HuseyinCelik99/status/1027902540170645504?ref_src=twsrc%5Etfw”>August 10, 2018</a></blockquote>
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Some Turkish folks just stayed cool and summed up:

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>To sum up that catastrophe:<br><br>- Erdoğan declares Turkey will win economic war and tells Bayburtians to sell dollars<br>- The son-in-law delivers an empty Econ 101 lecture with a child’s PowerPoint and sweats over 3 liters<br>- Trump bumbles in and makes matters worse<br><br>Fuck it. Whisky.</p>&mdash; Can Okar (@canokar) <a href=”https://twitter.com/canokar/status/1027924000918446081?ref_src=twsrc%5Etfw”>August 10, 2018</a></blockquote>
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Of course, it is the average Turkish people who will have to pay for Erdogan’s arrogance, stubbornness and megalomania.

And some US and international internet users attacked Trump for hitting a vulnerable state.

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4 comments

  1. One cannot help but be concerned regarding this turn of events with Turkey. While this situation has now exposed the deep corruption within the Turkish system and the need to excise the extremists from their government, this may take a turn for the worse. Specifically, I fear that Turkey may use this as an excuse to attack Greece. What better way exists to rally a desperate people than the cause of imperialism disguised as national protection?

    Greece had better be on guard. This may be a bigger test of NATO in some senses than the former Soviet Bloc ever was, especially considering Stoltenberg’s comments regarding non-intervention in a conflict between Greece and Turkey.

  2. I too think there is a lot of sense in what Maria says. History shows us that for most governments, when you’re in trouble at home; start a foreign war. I don’t see Turkey being stupid enough to attack Greece per-se, but I would double the guard on the Aegean islands, especially the ones close to Turkey. All Erdogan has to do to divert attention from the economy is seize one of those for a few weeks…..

  3. All central banks which do not play along with the Wall Street-IMF-ECB-World Bank-London máfia will be destroyed. Look what they have done to your economy , Greece! You call that “financial help”? That was one of the objectives of trying to destroy Syria; their central bank was not hooked up to the Rothschild system. When are people going to wake up? May Russia and China succeed in destroying this despicable system.

  4. DEAR MARIA…you got it sister !