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Turkey’s Erdogan stands by opposition to high interest rates

Turkish President Tayyip Erdogan stood by his opposition to high interest rates on Sunday despite sharp falls in the currency, saying the lira’s weakness did not reflect the country’s economic realities. Speaking to supporters in Trabzon on the Black Sea coast, Erdogan dismissed suggestions that Turkey was in a financial crisis like those seen in Asia two decades ago, dampening expectations of a rate rise to support the currency. The Turkish lira has lost about 40 percent of its value this year, largely over worries about Erdogan’s influence over the economy, his repeated calls for lower interest rates …read more […]

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Trump backs boycott of Harley Davidson in steel tariff dispute

President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel. The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the United States to its overseas facilities to avoid the tariffs imposed by the trading bloc in retaliation for Trump’s duties on steel and aluminum imports. In response, Trump has criticized Harley Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to …read more […]

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Trading Ideas

Trump backs boycott of Harley Davidson in steel tariff dispute

President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc (HOG.N) on Sunday, the latest salvo in a dispute between the company and Trump over tariffs on steel. The Wisconsin-based motorcycle manufacturer announced a plan earlier this year to move production of motorcycles for the European Union from the United States to its overseas facilities to avoid the tariffs imposed by the trading bloc in retaliation for Trump’s duties on steel and aluminum imports. In response, Trump has criticized Harley Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to …read more […]