US COTTON EXPORTERS FRET OVER TURKEY CURRENCY COLLAPSE AND TRADE DISPUTE WITH WASHINGTON
September 1st, 2018
A senior figure in the American cotton industry has told just-style of his concern that Turkey’s collapsing currency and trade disputes with the US government will cause it to import less US-made cotton.
The Turkish lira - TRY has dropped in value by 45% this year – indeed last September 12, USD1 bought TRY3.43, this September 11, it bought TRY6.43. With inflation running at a crushing 101%, the currency is not likely to strengthen in exchange markets.
Turkey-US trade relations have worsened since US President Donald Trump announced on August 10 that ...
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