Erdoğan urges Turks to sell dollars and euros to support lira

Turkish delegation returns home after meeting in US

This is double the level the president imposed on a range of countries earlier this year, including European Union member states.

In the last two years, the Turkish government has increasingly used the detainment of people with US or dual citizenship to try to force the United States to give into its demands.

The U.S. exported $9.75 billion worth of goods-mostly cotton, scrap iron, steel, civilian aircraft parts, coal, and petroleum gases-to Turkey, and imported $9.42 billion worth of goods from them.

Trump announced the punitive doubling of tariffs on Twitter, with the White House saying the sanctions would take effect from August 13.

The lira slid to a fresh record low against the USA dollar.

Erdogan downplayed the currency crisis in a speech on Friday, advising Turks not to be anxious over exchange rate fluctuations. Overall, the national currency lost roughly about 40 percent of its value this year.

Turkish officials insist the outcome of Brunson's case exclusively relies on the judiciary, a claim the United States has refused to buy in the light of Erdogan's earlier suggestions to swap him with Turkish opposition exiles residing in the US.

Mr Erdogan said although the nations had been allies for decades, Turkey "now has alternatives".

"I'm not aware of any prior administration using tariffs in this way, and there's a very simple reason: because they're an incredibly blunt instrument that often can have blowback on American workers and consumers as we've seen in the China context", said Ned Price, a former Central Intelligence Agency officer who also served as a National Security Council spokesman during the Obama administration. But some investors fear the Turkish economy is growing too quickly and could face problems.

England vs India, second Test, day four
Anderson followed up by trapping Lokesh Rahul lbw for 10 with a ball that came back off the seam into the right-hander. He was well supported by pacers James Anderson and Stuart Broad who tore apart the Indian batting.

Erdogan has been putting pressure on the central bank not to raise interest rates in an attempt to help borrowers. Negotiations failed to achieve the desired results, prompting the Turkish government to try more aggressive tactics, regardless of their costs to the country's economy and global standing.

Turkish President Recep Tayyip Erdogan on Sunday slammed the crash of the lira amid a widening spat with the United States as a "political plot" and said his country would instead seek new markets and new allies.

President Trump's sanctions saw the Turkish lira plummet to a unsafe low, causing a financial crisis that has also threatened to destroy Europe after it triggered concerns with banks in Spain, Italy and France.

In a separate opinion piece in the pro-government newspaper Daily Sabah, Erdogan's spokesman Ibrahim Kalin said Turkey's efforts to solve the crisis with diplomatic methods had been dismissed by the Trump administration, warning that "the USA runs the risk of losing Turkey" as an ally.

The measures of the siege that started on August 6 don't really resemble those taken by the USA on Day One.

Washington earlier this month already imposed sanctions on senior Turkish officials over the Brunson case, angering Erdogan and prompting retaliatory measures by Ankara.

Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, July 25, 2018.

Trump's "jubilation in inflicting economic hardship on its North Atlantic Treaty Organisation ally Turkey is shameful", Zarif wrote on Twitter.

Erdogan on Friday held telephone talks with Russian President Vladimir Putin, discussing economic and trade issues as well as the Syria crisis.

Related News:

  • Kavanaugh confirmation hearing scheduled for September 4

    Kavanaugh confirmation hearing scheduled for September 4

    August 2: The National Archives said it will take until the end of October 2018 to produce just the documents Sen. Kavanaugh's appearance will be followed by testimony from legal experts and people who know the judge.
    Maryland Terrapins football Jordan McNair death DJ Durkin scandal timeline

    Maryland Terrapins football Jordan McNair death DJ Durkin scandal timeline

    The report from ESPN shared the scary details surrounding McNair's death, which called into question the Maryland training staff. McNair, 19, reportedly died of heatstroke in June after being hospitalized with a body temperature of 106 degrees.
    Carl Ikeme is our big inspiration - Wolves boss Nuno Espirito Santo

    Carl Ikeme is our big inspiration - Wolves boss Nuno Espirito Santo

    Neves' resulting goal from the free-kick gave new life into a game that had gone flat and was falling away from the hosts' grasp. The goals and the red card were the only notable pieces of action of the first half.
  • Sask. government fears trade disturbance during Canada-Saudi Arabia dispute

    Sask. government fears trade disturbance during Canada-Saudi Arabia dispute

    The consultancy said Germany and Poland were the leading wheat exporters to Saudi Arabia but poor weather could hit their exportable surplus this year.
    Jack Wilshere Starts - West Ham Team vs Liverpool Confirmed

    Jack Wilshere Starts - West Ham Team vs Liverpool Confirmed

    Bigger tests will lie ahead for him and the Reds' defence, but this was a fine way to start a season where expectation is high. Therefore, saying what we think we will achieve is completely pointless.
    Arsenal's uncomfortable Petr Cech earns 5/10 as Gunners struggle vs

    Arsenal's uncomfortable Petr Cech earns 5/10 as Gunners struggle vs

    The Gunners signed five players in the summer transfer window to bolster Emery's squad ahead of the new Premier League campaign. The France striker injected more urgency into Arsenal's attacks and sent an effort just wide only moments after coming on.
  • Cristiano Ronaldo took just eight minutes to score on his Juventus debut

    Cristiano Ronaldo took just eight minutes to score on his Juventus debut

    Spoiler, he probably can. "With the arrival of Ronaldo our expectations are higher for the Champions League". A pitch invasion from the almost 5,000 fans in attendance forced the end of the game after only 72 minutes.
    Pele predicts where Liverpool FC will finish this season

    Pele predicts where Liverpool FC will finish this season

    I have a very good relationship already established with the three forwards particularly - Sadio, Roberto Firmino and Salah. Positive? Shaqiri is certainly that - about himself and also Liverpool's prospects this season.

    Chelsea's all-round effort ensures Maurizio Sarri makes winning start

    They made Chelsea uncomfortable throughout the opening period, and new signing Terence Kongolo impressed at center-back. And while Sarri's daring move paid off in the return of a goal apiece, his side also dominated the midfield easily .
  • Arsenal's loss to Man City shows the work ahead for Unai Emery

    This was Arsenal's first Premier League game since 1996 not being led by Arsene Wenger , who left the north London club in May. Going forward, things were made particularly hard for him by the absence of a natural left-back to lend him support.
    NASA Parker Solar Probe launches on mission to high-five the sun

    NASA Parker Solar Probe launches on mission to high-five the sun

    Eugene Parker is a University of Chicago professor emeritus in physics who first proposed the concept of the solar wind. The corona holds the answers to many of scientists' outstanding questions about the Sun's activity and processes.
    USA  tariffs hike adds to Turkey's economic problems

    USA tariffs hike adds to Turkey's economic problems

    The currency drop is particularly painful for Turkey because the country finances a lot of its economic growth with foreign money. Friday saw the lira's value falling over 15 percent, bringing the decline to over 40 percent since the beginning of the year.


Most liked

Lucas Moura Starts - Tottenham Hotspur Team vs Newcastle United Confirmed
Pochettino handed a debut to academy graduate Luke Amos , bringing him on for the "tired" Dier. But Pochettino said: "Score or not score, I don't have doubts about this".

Orca seen grieving, carrying dead calf is now feeding, frolicking with pod
Killer whales have been known to carry dead calves for a week, but scientists believe this mother "sets a record". There hasn't been a successful birth among the southern resident killer whales in three years.

Over 450 people hurt in Romania protest clashes
A group of protesters tried to break into the government building in Bucharest , but were held back by the police security cordon. Under Kovesi's leadership, corruption conviction rates rose sharply in one of the EU's most corruption-plagued members.

'Deflategate' sequel during preseason? Nope, NFL says just a defective ball
Eskin said the National Football League has one of the balls in question, adding that it was very deflated and like a marshmellow. There was optimism surrounding the move, with Oakland coach Jon Gruden lauding the quarterback back in his ESPN days.

Wall Street flat as trade tensions mute earnings optimism
The S&P index recorded 25 new 52-week highs and TWO new lows, while the Nasdaq recorded 85 new highs and 51 new lows. That compares with the 6.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

Donald Trump calls former aide Omarosa a 'lowlife'
The author says she now regards Kelly's phrasing as a "very obvious" threat that justifies her secretly recording the meeting. Manigault Newman also renewed allegations that the president had used racial slurs , calling him a "con" on Sunday.

Nobel Prize-winning author VS Naipaul dies aged 85
From there he traveled to the United Kingdom and entered the University of Oxford in 1950 after winning a government scholarship. It was based on the life of his father Seepersad, who was a reporter for the Trinidad Guardian.

Sevilla Threaten Super Cup Action Against Barcelona
Sevilla qualified for the match as last season's Copa del Rey runners-up, after Barcelona won the league and cup double. But the club could also call upon defender Marlon (Brazil), taking the total up to four.

Unai Emery confirms new Arsenal captain
Then we need to build and create by the way. "We wanted to start here with our supporters". He said: "The first captain in this group is Koscielny".

Thibaut Courtois apologises to Chelsea for going AWOL
They are qualities Hazard possesses in abundance and he came off the bench late on to brilliantly fashion a third goal for Pedro . But the Terriers were dealt a hammer blow in the 44th when referee Chris Kavanagh awarded the visitors a penalty.

Man who stole plane was amusing , hardworking, former colleague recalls
Alaska Airlines said the plane was in a "maintenance position" when it was stolen and not scheduled for a passenger flight. Read: 'Keep the plane right over the water. "Normal operations at Sea-Tac Airport have resumed", the airport wrote.

Tesla's shorters play the long game against Musk
He said that would allow Tesla to "operate at its best, free from as much distraction and short-term thinking as possible". It's also possible Musk has some unconventional plan that would take Tesla private without using traditional sources .

Space Force: everything you need to know about the White House proposal
Democratic Senator Brian Schatz, who is on the Defense Appropriations subcommittee, said the Space Force was a 'dumb idea'. Finally, the proposal recommends creating a Space Operations Force consisting of space technology and warfare experts.

Former cycling champion Ullrich detained after attack on prostitute
Ullrich was arrested and then released the next day, although a restraining order was taken out against him by Schweiger. Mr Ullrich said he was only trying to talk to his neighbour.

Dele Alli: 'Tottenham Hotspur have got to improve'
Kenedy and Ayoze Perez also had good opportunities to score, but Hugo Lloris remained composed and made two brilliant saves. The best came in the 85th minute when Salomon Rondon had a shot deflect off the crossbar.