Washington Post

Trump talks tough on Turkish economy, but actions so far fall short

The United States is the fourth-largest buyer of Turkish steel, consuming about 5% of the country's output, according to the International Trade Administration. Foto: Washington Post/Jabin Botsford

WASHINGTON - President Donald Trump wasn't wrong Monday when he said he could "swiftly destroy Turkey's economy" if Washington's NATO ally continues its military incursion in northern Syria. But the modest sanctions he imposed Monday won't do it.

One year after a debilitating currency crisis, Turkey remains vulnerable to outside financial pressure. Turkish corporations, which owe more than $304 billion in foreign borrowings, most of them in dollars, are a key weak spot...

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