Turkish lira weakens as United States warns of new sanctions over detained pastor

17 August, 2018, 22:40 | Author: Frank Williams
  • Turkey's Move to Double Tariffs on US Goods a 'Step in the Wrong Direction,' White House Says

Almost 10 million people use US' iPhones in Turkey, press reports said, adding that the amount paid for the products hit $7 billion in 10 years.

Local Turkish social media has been awash this week with footage of people smashing their iPhones in protest of US President Donald Trump and his recent sanctions on Turkey.

"They should have given him back a long time ago, and Turkey has in my opinion acted very, very badly", Trump told reporters at the White House, referring to Brunson.

Last Friday, U.S. President Donald Trump said he had authorised higher tariffs on aluminium and steel imports from Turkey.

"They are now holding our wonderful Christian pastor, who I must now ask to represent our Country as a great patriot hostage".

On Aug. 15, a Turkish court in the Aegean province of Izmir, where Brunson is on trial, rejected the pastor's appeal to be released from house arrest.

Last week, the U.S. doubled its tariffs on metal imports from Turkey.

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The US has threatened to impose more economic sanctions on Turkey if it does not free a detained American pastor. "We are not going to take this sitting down". "He's a very innocent man", President Trump remarked at a Cabinet meeting Thursday.

Meanwhile, Turkish people in social media tend to expand boycott in other US products ranging from textile to fast food.

He says the US will pay nothing for his return, because he is innocent and indicated the pressure on Turkey will continue.

Turkey's finance chief tried to reassure thousands of worldwide investors on a conference call Thursday, in which he pledged to fix the economic troubles. The lira's sharp decline has sparked fears in the worldwide community of a Turkish economic crisis.

But Washington's move has sent Turkey's financial markets into a tailspin: the Turkish lira plummeted more than 18 per cent at one point last Friday to a record low against the U.S. dollar.

Although Qatar has now pledged $15 billion it has not actually paid anything, and it may not be enough to solve Turkey's economic problems.

Turkish President Recep Tayyip Erdogan's move to double the tariffs on a range of American imports is "regrettable and a step in the wrong direction", a National Security Council spokesperson told The Epoch Times. Its leader lives in Pennsylvania and the USA has rejected calls from Turkey to have him extradited. "You are trading a strategic North Atlantic Treaty Organisation ally for a priest".


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