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Turkey increases import tariffs

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Turkey said yesterday that it is increasing tariffs on some U.S. imports like cars, alcohol, and coal — this is unlikely to have much economic impact but highlights the deteriorating relations with the U.S.

The Turkish government said tariffs on American car imports will be doubled to 120 percent, while those on alcoholic drinks will be hiked by the same proportion to 140 percent.

Overall, the import duties will amount to $533 million, a sum intended as retaliation for U.S. President Donald Trump’s recent decision to double import tariffs on Turkish steel and aluminum.