Turkish currency collapses after Trump authorizes doubling metals tariffs on Turkey

(CNBC) The Turkish lira added to its steep losses on Friday, hitting a record low after President Donald Trump announced he was doubling metals tariffs on Turkey.

The lira briefly fell 20 percent against the U.S. currency, reaching a record low, after Trump made the comment in a tweet. The currency last traded down 13.5 percent against the U.S. dollar.

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