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Trump Orders Metal Tariff Hike For Turkey As Lira Tumbles

Law360 (August 10, 2018, 3:30 PM EDT) -- President Donald Trump announced Friday that he will double the national security-based steel and aluminum tariffs on Turkey, citing the rapid depreciation of the country’s currency over the past several weeks.

The Turkish lira plunged more than 10 percent against the U.S. dollar early Friday before a modest bounceback, prompting Trump to take to his Twitter account and unveil his apparent hike of the steel and aluminum duties that were initially set at 25 percent and 10 percent, respectively.

“I have just authorized a doubling of...
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