Aug 14 2018

Turkey prepares to ban U.S. products in construction

Turkey will not use U.S. products in construction, the environment and urbanisation minister announced on Tuesday, in response to what Ankara has labelled the ‘’economic war’’ against the country’s currency, state-run Anadolu news agency reported.

The statement from Murat Kurum arrives as the lira traded at record low on Monday, losing more than 40 percent of its value against the dollar this year following this month’s U.S. sanctions and tariff increases on steel.

Kurum stressed that representatives of the real estate sector will ‘’fight with all their strength against the economic siege’’ over Turkey.

President Recep Tayyip Erdoğan earlier on Tuesday announced Turkey will boycott U.S. electronic goods in response to U.S. tariff hikes.