Turkish President Rails Against ‘War’ on Turkish Economy

Turkish President Recep Tayyip Erdogan arrives at the 2018 NATO Summit at NATO headquarters in Brussels Belgium

Frustrated with his continuing detention, Washington sanctioned two Turkish ministers and then doubled tariffs on Turkish steel and aluminum imports.

"If you have dollars, euros or gold under your pillow, go to banks to exchange them for the Turkish lira".

Turkish President Tayyip Erdogan told Turks to sell their gold and dollars to support the crumbling lira.

Turkey's currency plunged to fresh all-time lows against the dollar Friday after President Donald Trump announced in a tweet that he would double tariffs on aluminum to 20% and on steel to 50%.

The Turkish Trade Ministry called the move "illegal", pointing to the World Trade Organization (WTO) rules.

Trump stated in an inflammatory tweet that the Turkish lira was weak against "our very strong dollar", adding that "US relations with Turkey are not good at this time".

Iran has also suffered a major tumbling of its currency this year partly over the reimposition of United States sanctions after Trump abandoned the 2015 nuclear deal.

A delegation led by Turkish Deputy Foreign Minister Sedat Onal failed to secure a deal last Wednesday in talks in Washington on a number of issues including Brunson.

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Without naming any country, Erdogan said that those - who stand against Turkey for the sake of small calculations - would pay the price.

As the currency continued to fall, United States President Donald Trump announced on Friday he had doubled steel and aluminum tariffs on his North Atlantic Treaty Organisation ally before admitting that relations between Washington and Ankara were "not very good". "This will be the response to those who have declared an economic war".

In a Friday opinion piece for the New York Times, though, he used a milder tone to restore ties before it is too late, reminding of long-standing relations the USA established with Turkey over half a century ago upon its accession into North Atlantic Treaty Organisation.

Brunson was arrested in October 2016 on charges of being an American spy and terrorist complicit in the failed coup attempt against Erdogan in the summer of 2016.

"Hopefully we will overcome this disaster and we will also successfully overcome this economic war", Erdogan said.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan said in the Black Sea town of Unye. Gulen denies the allegation.

His cause resonates with Trump's Christian conservative supporters, who could be influential as Republicans seek to retain control of Congress in midterm elections in November.

"We are once again facing a political, underhand plot. The U.S. has to rehabilitate its addiction to sanctions & bullying or entire world will unite - beyond verbal condemnations - to force it to".

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