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Oct. 14, 2019, 4:31 p.m. EDT

Trump says he’ll impose sanctions on Turkey over Syria incursion

Steel tariffs to rise to 50% from 25%

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By Robert Schroeder, MarketWatch


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President Donald Trump

President Donald Trump said Monday he will soon sign an executive order authorizing sanctions on Turkey, a day after he directed a full withdrawal of U.S. troops from northern Syria.

‘BIG SANCTIONS’

In a statement late Monday, Trump said he’d soon issue an order targeting Turkish officials over Ankara’s incursion into Syria. Trump also said he’d halt negotiations with Turkey on a $100 billion trade deal and that tariffs on Turkish steel would be increased to 50% from 25%.

Earlier in the day Trump wrote on Twitter, “Big sanctions on Turkey coming!” In a series of tweets, Trump also suggested that the Kurds may be releasing some ISIS prisoners to get the U.S. involved in the conflict.

Defense officials said Sunday that many of the 1,000 members of the U.S. force would be moved to Iraq by the end of the month , according to the Wall Street Journal. As the Journal reported, Trump has drawn blame for the deteriorating situation, with critics saying his move abandoned Kurdish allies and paved the way for an assault by Turkey.

Read: U.S. troops ordered to pull back from northern Syria as Kurds ally with onetime enemies.

Trump has previously warned he would “totally destroy and obliterate” Turkey’s economy if Ankara took what he described as “off limits” actions. He issued a similar threat in Monday’s statement.

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Robert Schroeder is the White House reporter for MarketWatch. Follow him on Twitter @mktwrobs.

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