On Wednesday Turkey announced that it will raise tariffs on certain goods from the US, escalating conflict that already led to economic crisis in the country, Bloomberg reports.

Ankara is going to set additional tariffs on import of such products as rice, vehicles, alcohol, coal and cosmetics.

Turkish lira fell in recent weeks to record low level, and yearly losses already 42%. Now it stabilized at 6,50 per dollar.

Investors worry not only about relations between Turkey and the US, but also about economic policy of President and high dept of the country in foreign currency.

Washington earlier applied financial sanctions to Turkey and doubled tariffs on steel and aluminum.

Turkey also promised to start boycotting American electronics, including iPhones.