In August, Turkish lira met a sharp drop by 18 percent, the biggest in a single day since the Turkish financial crisis in 2001. The fall of lira came after Trump’s announcement that the tariffs on steel and aluminum imports from Turkey would be doubled. Turkey is the eighth largest steel producer in the world and the sixth largest source of U.S. steel imports.
Days later, news leaked form Turkish authority said that Khashoggi had been killed inside the consulate and hinted that the Saudi royal family was behind the murder. The event attracted world concern. Saudi authorities admitted the involvement of officials in the killing but denied its connection with the royal family.