US ups metal tariffs on Turkey

Turkish President Recep Tayyip Erdogan arrives at the 2018 NATO Summit at NATO headquarters in Brussels Belgium

President Donald Trump said on Friday that he has authorised the doubling of steel and aluminium tariffs "with respect to Turkey". But Erdogan urged Turks not to be panicked by the currency crisis, saying: "If they have the dollar, we have Allah".

The foreign ministry also released a statement on Friday and warned the US that sanctions and pressure would only serve to harm ties between the two North Atlantic Treaty Organisation allies, adding Ankara would continue to retaliate as necessary against USA tariffs.

After nearly 20 months in a Turkish jail, Brunson was moved to house arrest in July by a court.

He was speaking at a rally in the Black Sea town of Unye.

Washington "must give up the misguided notion that our relationship can be asymmetrical", he said in the opinion piece. "Turkey is an important strategic partner militarily and economically". You can never bring this nation in line with the language of threats. "We will only do what justice demands".

He appeared to blame foreigners for trying to hurt Turkey, saying: "This will be my people's response against those waging an economic war against us".

The lira sell-off has deepened worries particularly about whether over-indebted firms will be able to pay back loans taken out in euros and dollars after years of overseas borrowing to fund a construction boom, Reuters reported.

"Their currency, the Turkish lira, slides rapidly downward against our very strong dollar!" "It's a bad decision", said Mayra Rodriguez Valladares, the managing principal of New York-based financial consulting and research firm MRV Associates. "We care about the law, the language of the law", he said about the United States policy during a rally in the Black Sea city of Ordu hit by floods that harmed hundreds of homes and businesses.

Iran's Foreign Minister Mohammad Javad Zarif waded into the mounting row by accusing Washington of having an "addiction to sanctions and bullying".

"Failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies".




Iran has also suffered from a major tumbling of its currency this year partly over reimposition of U.S. sanctions after Trump abandoned a 2015 nuclear deal.

What are the other issues of disagreement?

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

Brunson was indicted for allegedly having links with the outlawed Kurdistan Workers' Party and Fethullah Gulen, an exiled Turkish preacher who has allegedly masterminded the failed coup attempt in 2016 to topple Erdogan.

The latest tariffs stem from the trade fight Trump launched earlier this year with several countries, including Turkey, according to the Washington Post.

Turkey's troubles, compounded by a new round of United States sanctions, are unlikely to cause any kind of permanent hit to U.S. markets or its economy, but it does offer two cautionary tales, one for President Donald Trump and the other for Federal Reserve Chairman Jerome Powell.

It's an awkward triangle, given that Turkey is a Nato member, Russian Federation is Nato's number one threat and the organisation is obliged to defend any member that is attacked.

What were the latest United States measures?

The reaction from global currency markets caused the euro to slump to a 13-month low and pushed the dollar to a one-year high.

But it fell apart when a Turkish court, rather than sending Brunson home, ordered that he be transferred to house arrest while he awaits the resumption of his trial, scheduled for October.

Related news:

Hot News

isis-killer-beheading-video-story-top Perseid meteor shower to peak over Canada this weekend
Aug 12, 2018 - 16:11
The meteor shower will grow more spectacular through the weekend with top performance between midnight and dawn Sunday and Monday. The meteors can appear anywhere in the sky, but they look the brightest against the darkest sky, which is straight up.

isis-killer-beheading-video-story-top Tech stocks take Nasdaq closer to record
Aug 12, 2018 - 16:10
Shares of Apple (AAPL.O) rose 0.8 percent, while those of Amazon (AMZN.O) were up 0.6 percent and Microsoft (MSFT.O) 0.4 percent. Declining issues outnumbered advancing ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favoured decliners.

isis-killer-beheading-video-story-top Bill Schuette and Gretchen Whitmer Win Michigan Gubernatorial Primary Races
Aug 12, 2018 - 15:54
Four underdog candidates whom she stumped for in recent weeks lost in Democratic primaries in Michigan, Kansas and Missouri. She will be one of two DSA members, alongside Ocasio-Cortez, assuming the latter prevails in the fall.

isis-killer-beheading-video-story-top Trump is a bigot who used racial slurs, ex-aide Omarosa says
Aug 11, 2018 - 03:42
Sanders also says, "It's sad that a disgruntled former White House employee is trying to profit off these false attacks". She writes that over time, she came to the realization that Trump was a racist, something the rest of us already knew .

isis-killer-beheading-video-story-top Jose Mourinho: Man Utd boss 'not confident' of deadline day signing
Aug 11, 2018 - 03:28
Alisson , Fabinho , Naby Keita and Xherdan Shaqiri all arrived before the end of July, with Jurgen Klopp eager to work with his full squad throughout pre-season.

isis-killer-beheading-video-story-top AC Milan closing in on Bakayoko Loan deal
Aug 11, 2018 - 03:05
New Chelsea manager Maurizio Sarri has reportedly declared France global Tiémoué Bakayoko surplus to requirement this season. The Italian born tactician joined the Blues this summer after replacing Antonio Conte at the Stamford Bridge.

Annual Perseids Show peaks this weekend
Aug 11, 2018 - 03:04
The Perseids will peak this weekend between the 12th and 13th, when moonless nights will make for an especially dark sky. The Perseid are essentially a collection of dust and small rocks left behind by the comet Swift-Tuttle.

isis-killer-beheading-video-story-top North Korea Says US "Throwing Water" Over Confidence-Building Efforts
Aug 11, 2018 - 02:00
The Korean Peninsula is still technically in a state of war because the fighting ended with a cease-fire, not a peace treaty. Washington has said that sanctions will not be lifted until Pyongyang fully and finally dismantles its nuclear weapons.

isis-killer-beheading-video-story-top Bills' Benjamin dismisses Newton skirmish: 'I wasn't even trying to listen'
Aug 11, 2018 - 01:37
Looking back on it, I should've just been drafted by somebody else. Benjamin saved his best compliment for young Damiere Byrd, though. He responded on social media in his Instagram story .

isis-killer-beheading-video-story-top Israel pounds Gaza, killing a pregnant woman and her child
Aug 10, 2018 - 23:58
He said, "Hamas is moving away from an arrangement to calm things down and is moving near to a war in which it would be hit hard". A Hamas militant was killed in one strike, with at least 12 others injured, the health ministry in Gaza said.

isis-killer-beheading-video-story-top England cricketer Ben Stokes faces trial
Aug 10, 2018 - 23:56
He claimed he saw Ali and Hale speaking to the two gay men in a "harsh and abusive" way that was homophobic in nature. Mr Corsellis told the jury that the club's doorman, Andrew Cunningham, observed Mr Stokes's behaviour towards them.

isis-killer-beheading-video-story-top United States to impose new sanctions on Russian Federation for nerve attack in UK
Aug 10, 2018 - 23:33
Britain, which blamed Russian Federation for the attack, welcomed Washington's decision to impose the sanctions . It said the situation was a "natural reaction of the financial market to news about new potential sanctions ".

isis-killer-beheading-video-story-top Liverpool have defensive worries ahead of West Ham tie
Aug 10, 2018 - 22:47
And while Klopp would like that fortune to change he knows there are other factors which are more important. You have to create a squad which is strong enough and wide enough to cope with the Premier League .

isis-killer-beheading-video-story-top Tiger Woods targets place on the USA Ryder Cup team
Aug 09, 2018 - 17:38
The par-3 sixth is Bellerive's shortest hole at 213 yards, and with little room for error, can be one of its most hard . Which is the harder task? And [that] it hasn't been done that often. [But] I would look at Xander Schauffele .

isis-killer-beheading-video-story-top British PM May, others flay Boris Johnson for ‘Islamophobic’ remarks
Aug 09, 2018 - 17:31
The burka and niqab are disgusting tribal ninja-like garments that are pre-Islamic, non-Koranic and therefore un-Muslim. But Johnson received support from some quarters, with Conservative MP Nadine Dorries saying he "did not go far enough".