'These appear to be relatively light sanctions — meant to appease Congress,' one economist told CNBC.
rose in Tuesday morning trading on the back of a statement by Trump promising a 50% tariff on Turkish steel imports and a halt to trade negotiations between Ankara and Washington — penalties that analysts are calling "window dressing."
The tariff threats are mere "window dressing from Trump," said Timothy Ash, senior emerging markets strategist at Bluebay Asset Management. "Minimal sanctions. A few individuals. A trade deal which was years off anyway. And steel tariffs up to 50% — Turkey hardly exports any anyway," Ash said in an emailed note.Turkish-backed Syrian fighters near the town of Tukhar, north of Syria's northern city of Manbij, on October 14, 2019.
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