Fire Sale Coming On Turkish Firearms And Walnut

[10x25mm]

President Trump doubled tariffs on Turkish steel and aluminum this morning, but not Turkish firearms and walnut. This has driven USDTRY (the number of Turkish Lira required to buy a U.S. Dollar) up 16.69% this morning. This amounts to about a 14.3% drop in the value of the Lira. USDTRY is now up about 40% since the beginning of 2018 and 80% over the last 12 months.

The story, from Reuters:

https://www.reuters.com/article/us-t...-idUSKBN1KV1C3

Trump slaps steeper tariffs on Turkey after currency freefall
Rebecca Morin - 08/10/2018

President Donald Trump announced on Friday that he is doubling tariffs on Turkey after Turkish President Recep Tayyip Erdoğan asked citizens to convert foreign currencies, including U.S. dollars, into local lira — leading to a dramatic drop in the Turkish currency.

"I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!" Trump tweeted.

The lira is at an all-time low against the dollar, according to CNBC. The lira has been dropping for the past several days, which Erdoğan has said is a "campaign" against Turkey, according to the Associated Press.

Trump's announcement of steeper tariffs is his administration's latest hit against Turkey.

The president on Aug. 1 issued sanctions against the longtime NATO ally after Turkey continued to detain American pastor Andrew Brunson. Trump warned Erdoğan in July to release the pastor or they would suffer sanctions.

Brunson was arrested in October 2016 by Turkey's government on charges of aiding a terrorist organization and for espionage. The U.S. and Turkish officials met this week to discuss Brunson's release, but a resolution was not reached.

Tension between the two countries has grown over the past couple of years due to a variety of disagreements, ranging from how to deal with Kurdish fighters in Syria to Erdoğan's increasingly authoritarian rule.

Erdoğan has also grown frustrated with the U.S. for not handing over Fethullah Gülen, a Pennsylvania-based Muslim cleric whom the Turkish leader alleges was behind a 2016 coup attempt in Turkey....

Trump's full tweet:

"I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!"

Walnut prices will probably drop almost immediately because it is imported regularly, in small lots. Turkish firearms prices should drop over the next three months.

Will a 25% drop in the price of Turkish pistols and shotguns motivate you to buy one?

[Zeebz]

Walnut prices will probably drop almost immediately because it is imported regularly, in small lots. Turkish firearms prices should drop over the next three months.

Will a 25% drop in the price of Turkish pistols and shotguns motivate you to buy one?

Anyone who wants an MP5 better jump on the Zenith train ASAP.