Spain learns investing in anti-Western regimes has a cost

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[…]  Earlier this month, President Donald Trump doubled steel and aluminum tariffs against Turkey to protest the imprisonment of American pastor Andrew Brunson. The Christian pastor has been jailed in the Islamic nation since 2016, when President Recep Tayyip Erdoğan defeated an attempted coup d’état against his increasingly repressive government.

The tariffs have ratcheted up pressure on the national currency, the lira, which has dropped from $0.20 (U.S.) on July 31 to $0.16 on August 22. That exacerbates the plunge that currency has been undergoing since 2013, when it was worth more than twice its current value. […]