Trump Weaponizes Tariffs Against Turkey!

President Donald Trump has announced that he has authorized doubling tariffs on imports of Turkish steel and aluminum.

Trump tweeted:

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!

— Donald J. Trump (@realDonaldTrump) August 10, 2018

It should be noted that Trump is not doing this for economic reasons but for political reasons.

Benn Steil correctly observes:

Tariffs have become Trump's go-to policy for everything, from cutting the trade deficit (which they won't) to protecting national security (a transparently ludicrous pretext) to just plain bullying.
https://t.co/fBJ4a4APlo via @bpolitics

— Benn Steil (@BennSteil) August 10, 2018

-RW