13 Aug 2018

Erdogan blames Trump for Turkey’s financial woes

International Editor

As Turkey’s currency plummets to record lows, President Erdogan has blamed the United States, accusing Donald Trump of waging “economic war against the entire world”.

The Turkish lira has lost around 40 percent of its value against the dollar this year, but the financial crisis reached meltdown on Friday after the US doubled tariffs on steel and aluminium imports. Despite moves today by the central bank to shore up the financial system, the effects are already being felt in economies around the world.