Economics
Trump Wields a Tariffs-and-Sanctions Hammer in Risky Strategy
- Pressure tactics have been applied from Turkey to North Korea
- ‘All these years we separated’ tariffs from sanctions: analyst
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Donald Trump isn’t the first American president to rely on economic sanctions and tariffs to exert U.S. power, but he’s taking that approach to new heights against allies and adversaries from Turkey to North Korea.
With an unexpected tweet on Friday morning, Trump announced that he was employing tariffs -- normally used to address trade disputes -- to pressure Turkey over its continued detention of an American pastor held since 2016. Turkish markets, already in a tailspin over President Recep Tayyip Erdogan’s economic policies, tumbled further with Trump’s decision to double steel and aluminum tariffs.