Erdogan warns Trump: Turkey does not respond to threats

Erdoğan urges citizens to convert foreign currency

President Tayyip Erdogan told Turks on Friday to exchange their gold and dollars into lira, with the country's currency in free fall after President Donald Trump turned the screws on Ankara by doubling tariffs on metals imports.

The moves stem from Trump's frustration over detained American pastor Andrew Brunson held by Turkey.

It added that Trump's comments, made on Twitter, were "not possible to reconcile with state seriousness".

Compounding the situation, president Donald Trump doubled the tariffs applied to Turkish aluminium and steel, as a Turkish delegation failed to reach a compromise with United States authorities.

President Erdogan's spokesman Ibrahim Kalin said Turkey's efforts to solve the crisis with diplomatic methods have been dismissed by The Trump Administration, warning that Washington could lose Ankara as an ally.

"Section 232 tariffs are imposed on imports from particular countries whose exports threaten to impair national security as defined in Section 232, independent of negotiations on trade or any other matter", White House deputy press secretary Lindsay Walters said in a statement.

Turkey's trade minister says Turkey is "deeply disappointed" by the decision of U.S. President Donald Trump's administration to double steel and aluminum tariffs on imports from Turkey.

Criticizing what he called the "interest lobbies", he reiterated that they can not defeat Turkey. "Aluminum will now be 20% and Steel 50%", Trump said in a tweet.

Mr Erdogan said during an address to supporters: "Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks". "Relations with countries who behave like this have reached a point beyond salvaging", said Erdogan, who warned of "economic war". Early Friday, the currency hit an all-time low of 6.30 against the USA dollar.

USA imports of Turkish steel account for 4 percent of total steel imports, according to statistics from 2017.

"Repeated efforts to communicate to the USA administration that none of the stated criteria driving America's tariffs are applicable to Turkey have thus far proven fruitless", Pekcan said in a statement.

There are more than a dozen US energy pipelines on the drawing board, some of which are still seeking financing.

Noting that Turkey is moving away from North Atlantic Treaty Organisation allies and toward Russian Federation and Iran, Mahaffee said, "The clash of personalities between Trump and Erdogan might be more than enough to split the historic alliance".

But President Erdogan brushed off any concerns during a speech in the northeastern city of Bayburt on Friday, saying: 'The dollar can not block our path.

Treasury and Finance Minister Berat Albayrak - who is Erdogan's son-in-law - was scheduled later on Friday to outline a 'new economic model'.

"This will be my people's answer to those who declare economic war against us", he added.

But that does not appear to be on the table as Erdogan pursues low rates to keep growth humming.

The central bank raised interest rates to support the lira in an emergency move in May, but it did not tighten at its last meeting.

The euro sagged to a 13-month low against the dollar on concerns that European banks operating in Turkey could suffer losses.

'If they have their dollar, we have the people, we have Allah, ' he said.

In an opinion piece in the New York Times on Friday, Erdogan said Turkey's partnership with the United States could be in jeopardy unless Washington "starts respecting Turkey's sovereignty".

Related News:



Most liked

Intel Core i9-9900K and i7-9700K turbo clocks impress
They won't be the company's Cannon Lake chips based on the 10nm process as they have been delayed until next year . The new processors will feature faster speeds and even more cores, thanks to improvements in the 14nm process node.

US 'Queen of Soul' Aretha Franklin gravely ill
She later signed to Columbia Records at the age of 18, with plans to move into secular pop music in line with Sam Cooke's career. In 2010, she cancelled concerts and took a step back from the spotlight after abdominal surgery for an undisclosed illness.

Parker Solar Probe: Nasa launches mission to 'touch the Sun'
The Parker Solar Probe during final pre-launch processing, its white heat shield visible at the top. "We are ready. Liftoff took place from Space Launch Complex 37 at Cape Canaveral Air Force Station in the U.S. early today.

Ocasio-Cortez stumps, fundraises across the nation
"Americans have the sticker shock of health care as it is", said , who won her Democratic primary in NY . Lewinsky, who knows from trouble and male attention, weighed in by calling Ocasio-Cortez a "badass".

2 tropical storms form off Mexico's southwestern Coast
It had maximum sustained winds of 50 miles per hour (85 kph) and was heading west-northwest at 13 miles per hour (20 kph). Authorities posted a hurricane watch from Punta San Telmo in Michoacan state to Playa Perula in Jalisco state.

Gates says Manafort told him to be truthful to Federal Bureau of Investigation
Manafort's political work included advising Viktor Yanukovich on policy after he won the Ukrainian presidency, Gates said. Ellis, known for his courtroom humor and occasional scolding of lawyers, has set strict boundaries on Manafort's trial.

Northern California wildfire grows to become largest in state history
In December, Governor Jerry Brown said devastating wildfires fuelled by climate change had become " the new normal ". For the latest updates about all California's wildfires, go to Cal Fire's "Incidents" page .

Everton agree €32m fee to snap up Yerry Mina
To sign Mina , they will face competition from Everton , as well as a host of other clubs. "He's a good player and a good guy". The defender was thought to be hot property after a strong showing at the World Cup that included 3 goals in 4 games.

Red Tide kills thousands of fish in Siesta Key
Tourists weren't scattered on beaches in southwest Florida on Thursday, but hundreds of dead fish were. Dolphins, manatees, sea turtles and even a whale shark have washed ashore in southern Florida.

How to use the new app switcher in Android Pie
But in fact, Lee claims to have seen an advert posted by Google itself on Famebit , a YouTube influencer marketing platform. Android 9 introduces a new navigation system and a single home button, too, added Google.

Fire Whirl In Carr Fire Equal To EF-3 Tornado
The fire has charred an area of the forested, rural area five times the size of San Francisco and is only 30 percent contained. The fire burned slowly for days before winds suddenly whipped it up last week and drove it furiously through brush and timber.

Apple officially becomes the first $1 trillion company
It did not reach the $100 billion mark until May 2007, but five years later the technology giant reached a value of $500 billion. The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007.

Trump receives new letter from Kim
But other techniques such as comparing teeth to dental records and bones to chest X-rays are also used. But he cautioned it was unclear if that soldier's remains were among those received from North Korea.

Smoking ban in NYCHA starts, violators could lose apartments
There is not like good weather in the winter, so for them to have to go outside and smoke, that's a hard thing", said Bella. The rule is created to protect people in public housing from secondhand smoke.

North Korea said to be working on new missiles
During his Senate testimony on July 25, Pompeo said that factories in North Korea "continue to produce fissile material ". Indonesia guarantees the security of all countries' representatives and contingents, including those of North Korea.