Qatar to aid Turkey, lira rallies, U.S. rejects lifting tariffs

Recep Tayyip Erdogan and Angela Merkel in Brussels

Turkish president Recep Tayyip Erdogan with German leader Angela Merkel

"The import duties were increased on some products, under the principle of reciprocity, in response to the United States administration's deliberate attacks on our economy", Turkish Vice President Fuat Oktay said, according to numerous translations of a tweet he sent in Turkish.

Turkish President Recep Tayyip Erdogan's move to double the tariffs on a range of American imports is "regrettable and a step in the wrong direction", a National Security Council spokesperson told The Epoch Times.

In the wake of United States sanctions on Turkey, President Recep Tayyip Erdogan reached out to German Chancellor Angela Merkel to point out that it's in Germany's interest for Turkey to have a strong economy.

The Turkish tariff increases amount to a doubling of the existing rate, the state-run Anadolu news agency said, in an apparent parallel response to Trump s move.

Turkey is boosting tariffs on imports of certain USA products, including rice, cars, alcohol, coal and cosmetics - escalating a feud with the United States that has helped trigger a currency crisis.

Turkey says its ready to enter talks with the United States regarding the ongoing trade and diplomatic disputes.

Erdogan s spokesman Ibrahim Kalin added: "Turkey is not in favour of an economic war with anyone but when attacked. will take all necessary steps".

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.

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Turkey's central bank has promised to provide banks with liquidity. "We will boycott the electronics products of the U.S".

President Erdogan said earlier this week that Turkey should not "give in to the enemy" by investing in foreign currencies. On Wednesday, a court in Izmir, where Brunson is on trial, rejected his appeal to be released from house arrest. A new ground for solidarity and partnership against this unlawful pressure on the world economy is being formed between various global powers, which include Germany, Russia, China, perhaps the Gulf states, unquestionably Turkey and maybe Iran. Following the meeting, USA officials have given no indication that the United States has been prepared to give ground in the standoff between the two countries' leaders.

President Recep Tayyip Erdogan, who has accused the United States of bullying behavior and economic sabotage, vowed on Tuesday to boycott USA -made electronic goods, including Apple's signature iPhone.

Turkey's battered economy received a further boost last night after Qatar pledged $15 billion of investment in the country's banks and financial markets.

Turkish officials have been keen to emphasise that Ankara wants to retain strong ties with Europe, which has also expressed deep unease with Trump s trade policies.

Brunson's lawyer, İsmail Cem Halavurt, filed the demand on August 14 around a week after his previous appeal was rejected by the Turkish court in the western province of İzmir. He's lived in Turkey for more than 20 years and is accused by the Turkish government of terrorism and spying.

U.S. President Donald Trump, who looks straight into the eyes of his Russian counterpart Vladimir Putin, turned his back on his European colleagues.

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