Turkey raises tariffs on US-origin products

Turkey to'continue taking steps to save lira's value

Tensions Rise Between Turkey And U.S. After Trump Sanctions

Tensions between the U.S. and Turkey have been steadily rising since American pastor Andrew Brunson was detained by Turkish officials on charges of terrorism and espionage.

Earlier in August, his administration had levied sanctions against Turkey's justice and interior ministers, accusing them of playing "leading roles" in the organizations responsible for the arrest and detention of Pastor Andrew Brunson.

Turkey retaliated with some $533 million of tariffs on some USA imports - including cars, tobacco and alcoholic drinks - and said it would boycott US electronic goods, singling out Iphones. Fruit, coal, and makeup are also affected.

Sanders later stated that the increased steel and aluminum tariffs the US has placed on Turkey are not related to the charges against Pastor Brunson.

Turkish President Recep Tayyip Erdogan said Tuesday that his country will ban USA electronics after a diplomatic feud pushed it into a currency crisis.

In his televised speech yesterday, Erdogan vowed that Turkey will "boycott United States electronic goods".

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"Qatar has pledged Dollars 15 billion of direct investments in Turkey", presidential spokesman Ibrahim Kalin wrote on Twitter yesterday.

The business groups also urged diplomatic efforts with the United States and an improvement in relations with the European Union, which is Turkey's major trading partner.

Businessmen holding US dollars stand in front of a currency exchange office in response to the call of Turkish President Tayyip Erdogan on Turks to sell their dollar and euro savings to support the lira, in Ankara, Turkey Aug. 14, 2018.

Turkey's influential business groups have called on the government to implement tighter monetary policy to help overcome the country's currency crisis.

The Turkish lira plummeted to a record low against the dollar this week, falling to 7.24 before recovering slightly.

The lira has lost almost 40 per cent against the dollar this year, driven by worries over President Tayyip Erdogan's growing control over the economy and his repeated calls for lower interest rates despite high inflation. "The tariffs are specific to national security", she stated.

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The local court in Izmir rejected Brunson's appeal to be released while his trial is pending.

"If they have iPhone, there is Samsung on the other side".

He promised central bank independence, tighter budget discipline, structural reform and "sustainable and healthy growth".

"The tariffs from Turkey are certainly regrettable and a step in the wrong direction", White House press secretary Sarah Sanders said, while stopping short of announcing fresh retaliatory measures.

Turkey took the action in response to what it called the Trump's administration's attack on its economy.

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