Markets stable as President Donald Trump on Monday said that in response to Turkey’s operation in Syria he will soon issue an executive order authorizing sanctions against current and former Turkish officials, stop negotiations with Turkey on a $100 billion trade deal, and boost tariffs on Turkish steel to 50 percent.
In a statement in which he vowed to swiftly destroy the Turkish economy if it continues down “this dangerous and destructive path,” Trump also said that U.S. troops coming out of Syria will redeploy and remain in the region to monitor the situation.
Turkey launched Operation Peace Spring, the third in a series of cross-border anti-terror operations in northern Syria targeting terrorists affiliated with Daesh and the PKK’s Syrian offshoot the People’s Protection Units (YPG), on October 9 at 4 p.m.
The operation, conducted in line with the country’s right to self-defense borne out of international law and U.N. Security Council resolutions, aims to establish a terror-free safe zone for Syrians return in the area east of the Euphrates River controlled by the U.S.-backed Syrian Democratic Forces (SDF), which is dominated by YPG fighters.