Turkey Raises Tariffs On US Goods

Turkey is retaliating against the US for the sanctions placed against the country for not freeing US pastor Andrew Brunson who faces terrorism charges and a prison sentence by raising the tariffs on U.S goods including alcoholic beverages, passenger cars, tobacco, cosmetics, rice and coal, according to Dow Jones Newswires.

It is the latest spat between the two NATO allies that has led to a currency crisis.

The lira rose slightly against the U.S. dollar after the announcement.

The currency, which had been hit by investor concerns over Turkey’s financial stability, has hit a series of record lows since August 1, when the U.S. imposed sanctions.

President Erdogan has accused Washington of waging an economic war against Turkey.