Turkish lira hits record low after U.S. says reviewing duty-free access
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The Turkish lira tumbled to a record low against the dollar on Monday, after the Trump administration said it was reviewing Turkey's duty-free access to the US market, a move that could affect some $1.66 billion of Turkish exports.
The US Trade Representative's review, announced on Friday, came after Ankara imposed retaliatory tariffs on US goods in response to American tariffs on steel and aluminium.
Relations between the NATO allies have steadily worsened, strained by differences on Syria policy and an escalating row over the trial in Turkey of an American Christian pastor, exacerbating the sell-off in the lira.
