Five months later, the United States made another unilateral pullout, announcing it was quitting the Intermediate-range Nuclear Forces (INF) treaty it had signed with the Soviet Union 30 years ago, alleging Russia had violated the treaty. The INF is an important bilateral treaty and its absence will have far-reaching effects on U.S.-Russia relations, regional security and the development of global nuclear power.
In August, Turkish lira met a sharp drop by 18 percent, the biggest in a single day since the Turkish financial crisis in 2001. The fall of lira came after Trump’s announcement that the tariffs on steel and aluminum imports from Turkey would be doubled. Turkey is the eighth largest steel producer in the world and the sixth largest source of U.S. steel imports.