Commodities

Trump halting trade negotiations with Turkey, raising its steel tariffs to 50%


President Donald Trump speaks during a meeting with China’s Vice Premier Liu He in the Oval Office at the White House after two days of trade negotiations in Washington, October 11, 2019.Yuri Gripas | ReutersPresident Donald Trump announced Monday that he would “soon” issue an order sanctioning Turkish officials, hiking tariffs on Turkish steel up to 50% and “immediately” halting trade negotiations with the country.”This Order will enable the United States to impose powerful additional sanctions on those who may be involved in serious human rights abuses, obstructing a ceasefire, preventing displaced persons from returning home, forcibly repatriating refugees, or threatening the peace, security, or stability in Syria,” Trump said in a lengthy statement posted to Twitter.The retaliatory measures followed Trump’s decision to order the withdrawal of all U.S. troops from Syria’s northern border with Turkey, which has enabled Turkish forces to launch an offensive against the U.S.-allied Kurdish forces there. This is breaking news. Please check back for updates.

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