File photo: Russia's Sergei Ryabkov
Russia is working on retaliatory measures against the United States after it imposed sanctions on a Russian company for aiding North Korea, Deputy Foreign Minister Sergei Ryabkov was quoted as saying by Interfax news agency on Thursday.
Washington sanctioned Russian-based Profinet Pte Ltd and its director general, Vasili Aleksandrovich Kolchanov, on Wednesday for providing port services on at least six occasions to North Korean-flagged ships.
Ryabkov said a decision on a response would be taken by the country's leadership.
President Donald Trump's trade dispute with Turkey increased downward pressure on U.S. stocks as indexes posted major losses Wednesday.The Dow Jones fell 260 points, or 1 percent, at 3 p.m. EST (1900GMT) to reach its lowest level since last Monday.The SP was down 26 percent with a 0.9 percent decline and the Nasdaq shaved 103 points, or 1.3 percent. Both indexes reached their lowest points since Aug. 2.Video: Turkish businessmen convert $3mln into Turkish lira after Erdoğan callThe three indexes posted losses for three trading days since Friday.The trade dispute between Turkey and the U.S., which are close allies for more than 60 years and NATO members, has intensified worries for investors who took a selling position in the market, according to analysts.President Donald Trump announced Friday that he ordered to double tariffs on steel and aluminum imports from Turkey.In return, Turkey has increased tariffs on several U.S. products, including alcohol, tobacco and cars, according to a new presidential decree published Wednesday in the official gazette.
Trade dispute with Turkey puts pressure on US stocks
The White House on Wednesday said U.S. tariffs on aluminum and steel imports from Turkey are "specific to national security".Speaking at a news conference, White House spokeswoman Sarah Sanders said tariffs on Turkey would not be removed even if detained American Pastor Andrew Brunson, who is facing terrorism charges in Turkey, is released.“The tariffs that are in place on steel would not be removed with the release of pastor Brunson. The tariffs are specific to national security," she said.The U.S will consider the removal of the sanctions that have been placed on Turkey and are "specific to pastor Brunson and others" when the aforesaid people are released, Sanders added.Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on two government ministers for not releasing American pastor Andrew Brunson, who faces terrorism-related charges in Turkey.Last Friday President Donald Trump ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports.Turning to U.S. reaction against Turkey's increasing tariffs on American products, Sanders said, “the tariffs from Turkey are certainly regrettable, and a step in the wrong direction."The tariffs that the United States placed on Turkey were out of national security interest. Theirs are out of retaliation," she added.Turkey has increased tariffs on several U.S. products, including alcohol, tobacco and cars, according to a new presidential decree published Wednesday in the official gazette.*Michael Hernandez in Washington contributed to this story
US tariffs to remain even if pastor freed: WH