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Trump moves his trade war to a new frontier as he kicks India and Turkey out of a $19 billion agreement
About $5.6 billion worth of Indian goods enjoy duty-free entry into the US under an agreement known as Generalized System of Preferences.
"The latest Turkish activity data suggest that the plunge in the lira since May, and the associated sharp tightening of financial conditions, has tipped the economy into recession," Capital Economics' Jason Tuvey wrote on Wednesday.
The lira's slide continued Monday, with the currency dropping as much as 10% against the US dollar in early-morning trading before stabilizing.
The country's financial regulator is seeking prison sentences of up to five years for those who spread 'erroneous and fabricated news and statements' to influence markets.