U.S. tariffs hike adds to Turkey's economic problems

Donald Trump doubles Turkey tariffs 'against World Trade Organisation rules' - Donald Trump's America

President Recep Tayyip Erdogan said Washington would pay for challenging Turkey all for the sake of "petty calculations".

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.

"We will say goodbye to those, who sacrifice its strategic partnership and alliance with a country of 81 million people on the altar of its relations with terror organizations", he said.

Zarif's remarks came a day after Trump ramped up his attack on Turkey by doubling US tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

Although Mr Erdogan struck a defiant tone, his foreign ministry called for diplomacy and dialogue to solve problems with the US. "You are exchanging your strategic partner in North Atlantic Treaty Organisation for a priest". The White House said he had authorised them under a section of United States trade law that allows for tariffs on national security grounds. "With God's permission we will overcome this", Erdogan told his party members in the Black Sea city of Trabzon.

"Interest rates should be kept to a minimum because they are a tool of exploitation that makes the poor poorer and the rich richer", he said.

Erdogan has downplayed the currency crisis, urging Turks to convert any stashed-away gold or foreign currency into lira, thereby waging a "war of independence" against America.

More news: Ten injured during Manchester shooting

"If there is anyone who has dollars or gold under their pillows, they should go exchange it for liras at our banks". "This will be the response to those who have declared an economic war".

Ankara had already taken measures to respond and would continue doing so, he added.

In an opinion piece in the New York Times Friday, Erdogan wrote "failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies".

President Recep Tayyip Erdogan on Sunday criticized the USA, saying Turkey will say "goodbye" to those, who prefer terrorists as their strategic partner.

Analysts say that while Washington's sanctions against Ankara sparked the immediate crisis, Turkey's economy has been risking trouble for a while due to high inflation and the weak lira. Trump also threatened additional "large sanctions" against Turkey, a North Atlantic Treaty Organisation ally, for Brunson's detention.

"The US has to rehabilitate its addiction to sanctions (and) bullying or the entire world will unite - beyond verbal condemnations - to force it to", he warned. "The entire Turkish public is against USA policies that disregard Turkey's legitimate security demands", Kalin, also a spokesperson for Erdogan, wrote for the pro-government Daily Sabah newspaper.

It was down roughly 0.5 percent to trade at $1.146 on Friday morning.

Related News:



Most liked

Liverpool v West Ham: Mane can get Reds up and running
Why didn't they adapt in the game? Despite changes at half time, West Ham failed to address their issues from the first half. The visitors could only attain 35% possession of the ball and were completely overrun across the park.

Intense fighting as Taliban presses to take Afghan city
Local television station 1TV says the number of fatalities has risen to more than 100, but there is no official confirmation. They hit the city from several points of ingress, attempting to overrun it and expel USA -backed forces from the city.

Cristiano Ronaldo needs just seven minutes to score his first Juventus goal
Rather ironically, Allegri is coaching Cristiano Ronaldo anyway, with the Portuguese superstar trading Madrid for Juventus this summer.

Dele Alli header helps Tottenham Hotspur beat Newcastle United in opening game
The visitors regained the lead but were unable to find the third goal that would have given breathing space as they exhausted . He will know that it was a golden chance to score and he should have done better.

Stefanos Tsitsipas, Rafael Nadal advance to Rogers Cup semifinals
Ranked 27th, Tsitsipas will jump to 12th with a victory Sunday and to 15th with a loss when the new rankings are released Monday. The 19-year-old Tsitsipas beat seventh-seeded Dominic Thiem and ninth-seeded Novak Djokovic to reach the quarterfinals.

Overstock Surges 20% After Hours Over Blockchain Subsidiary Investment
ValuEngine upgraded shares of Overstock .com from a "hold" rating to a "buy" rating in a research report on Wednesday, May 2nd. The Hanesbrands Inc . is having a distance of -10.08% form 20 day moving average, SMA 50 of -6.76% and an SMA 200 of -16.79%.

Blue light emitted from smartphones and laptops accelerates blindness
Because of this, in the cytoplasm, sharply increasing the concentration of calcium, which can eventually lead to cell death. The light waves of blue color in everyday life reflections from the computer monitors , smartphones and led lamps.

Butlin's guest records targeted by hackers
A spokeswoman for the Information Commissioner's Office said: "Butlins has made us aware of an incident and we will be making enquiries".

Mega Evolutions, Team Rocket Coming to ‘Pokémon: Let’s Go’
Moreover, to initiate these evolution stages one must have the suitable key for it. A cool guy who plays video games and then sometimes writes good things about them.

Santi Cazorla: Villarreal give midfielder a magical welcome
The popular Spaniard rejoins Villarreal 7 years after leaving them but he is still incredibly popular in that part of the world. Cazorla proved his fitness in pre-season training with Villarreal , though, earning a one-year contract with the Spanish club.

No room in USA for 'neo-nazism', says Ivanka Trump
Other businesses have taken similar approaches and have said they will deny services to attendees of the Unite the Right rally . The president highlights at each of his campaign events the positive economic numbers for minorities under his administration.

Q1 2019 EPS Estimates for Dropbox Inc Decreased by DA Davidson (DBX)
The Technology stock ( Dropbox, Inc .) created a change of 9.13 percent and closed its last session of business at $34.43. Historical Performance Review: To understand the smudge picture investors will must to look a little deeper.

Ronaldo Rushed To Hospital In Ibiza After Coming Down With Pneumonia
No-one at the private hospital Ronaldo is now said to be a patient at could be contacted early on Sunday for comment. Ronaldo scored 62 times for Brazil , including both goals when they beat Germany in the 2002 World Cup final.

Prehistoric giant shark teeth found on Australian beach
Philip Mullaly found the set of shark teeth in Jan Juc, a renowned fossil site along Victoria's Surf Coast. Fitzgerald suspected they came from one individual shark and there might be more entombed in the rock.

Turkish President Rails Against ‘War’ on Turkish Economy
The White House said he had authorized them under asection of US trade law that allows for tariffs on nationalsecurity grounds. Turkish President Tayyip Erdogan talks to media in the Black Sea city of Ordu, Turkey August 11, 2018.