Reuters reported the latest headlines on trade last minutes, citing that the US terminated the preferential trade agreement with Turkey, as announced by the White House.
Key Details:
Had been allowing some of the country’s exports into the US duty free, but not anymore.
The White House statement: The decision will be effective on Friday May, 17th.
The Turkish Lira fell to fresh three-day lows versus its American peer on the above headlines, driving the USD/TRY cross to 6.0949 levels.
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