Trump doubles steel and aluminium tariffs on Turkey

The slump in the lira comes after Donald Trump's sanctions

The slump in the lira comes after Donald Trump's sanctions

"According to estimates by the Turkish authorities, Washington used 5,000 trucks and 2,000 cargo planes to deliver weapons to the P.Y.D./Y.P.G in recent years", Mr. Erdogan wrote in NYT.

Erdogan framed Turkey's crisis as a "national battle" against economic enemies including the United States at a rally in the Black Sea town of Ünye on Saturday.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan told a rally in the Black Sea town of Unye.

"This treatment by America of its strategic partner has annoyed us, it has upset us", Mr Erdogan said.

In another opinion piece in the pro-government newspaper Daily Sabah, Mr Erdogan's spokesman, Mr Ibrahim Kalin, said Turkey's efforts to solve the crisis diplomatically had been dismissed by the Trump administration, warning Washington it might completely lose Ankara as an ally.

On Friday, Erdogan asked Turkish citizens to sell off their gold and dollars and exchange them for the lira, in an attempt to prop up the currency.

Although Turkey and the United States have been North Atlantic Treaty Organisation allies for more than 60 years, the U.S. "has repeatedly and consistently failed to understand and respect the Turkish people's concerns", Erdogan said in his opinion piece.

"If there are dollars under your pillow, take these out". If there are euros, take these out.

"They are threatening us".

Amid the dispute, foreign investors could be spooked and try to pull their money out, reinforcing the currency drop and potentially leading to financial instability.ISTANBUL (AP) - Turkey's president on Saturday blamed the country's economic downturn on the United States and other nations that he claims are waging "war" against his country.

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The news comes as Erdogan warned the USA that Turkey will seek "new friends and allies" in an editorial published in the New York Times today, urging them to respect Turkish sovereignty "before it's too late". In particular, were already imposed personal sanctions on the Turkish Ministers of justice and internal Affairs.

What are the other issues of disagreement?

On Friday, The New York Times published an article by Erdogan himself.

He is clearly angry that the U.S. has not taken more action against the Gulenist movement and what he said was a failure "to unequivocally condemn" the 2016 coup attempt. According to figures from the Turkish Government, for the period of 2002 to October 2017, Turkish direct investments in the United States reached $3.7 billion while US investments in Turkey amounted to $11.1 billion, second only to the Netherlands' 21.6 billion.

The latest escalation came as Turkey's Economy Minister Berat Albayrak, who is Erdogan's son-in-law and a trusted lieutenant, unveiled what was touted as a new economic plan, pledging Central Bank independence, tighter budget discipline and sustainable and healthy growth.

The U.S. exported $9.75 billion worth of goods-mostly cotton, scrap iron, steel, civilian aircraft parts, coal, and petroleum gases-to Turkey, and imported $9.42 billion worth of goods from them. The Turks have also restricted American use of the Incirlik Air Base.

What were the latest USA measures?

US President Donald Trump said Friday he had doubled steel and aluminium tariffs on Turkey, adding to pressure its troubled economy amid a diplomatic row with Washington. It has lost 40 percent of its value so far in 2018, and reached record lows following Trump's tweet.

Photo American Christian pastor Andrew Brunson is on trial in Turkey on terrorism charges.

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

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