Iran denounces Trump's tariffs targeting Turkey
- by Leona Burton
- in World Media
- — Aug 12, 2018
Turkish President Recep Tayyip Erdogan on Sunday slammed the crash of the lira amid a widening spat with the United States as a "political plot" and said his country would instead seek new markets and new allies.
Brunson's confinement has been one of a series of issues tearing at the ties between the United States and Turkey, a fellow member of North Atlantic Treaty Organisation.
The Turkish lira on Friday hit a record low following President Donald Trump's announcement he was doubling U.S. tariffs on Turkish metals.
All eyes will be on the lira when foreign exchange markets reopen on Monday after the weekend pause.
Jay Sekulow, an attorney for Trump who is also representing Brunson's family, told talk-show host and political commentator Sean Hannity's radio program on Friday: "We're close to getting a resolution in that case". With God's permission we will overcome this'.
We look the issue straining relations between the United States and Turkey.
More news: CAPROCK Group Inc. Acquires New Holdings in Trade Desk Inc (NASDAQ:TTD)Turkey's President Recep Tayyip Erdogan in Rize spoke of Turkey's plans to trade in local currencies with some countries.
"Some close the doors and some others open new ones", added Erdogan, who has built closer ties over the last years with countries from Latin America, Africa to Asia.
Erdogan appeared to indicate that the entire alliance between Turkey - which joined North Atlantic Treaty Organisation in 1952 with strong American backing - and Washington was at stake.
Calling on the US, Erdogan said: "It is a shame".
"You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?"
Photo American Christian pastor Andrew Brunson is on trial in Turkey on terrorism charges. Trump has described his detention as a "total disgrace" and urged Erdogan to free him immediately.
More news: Fox’s Laura Ingraham: I wasn’t talking about raceHoping to put pressure on the North Atlantic Treaty Organisation ally to free the pastor, the White House sanctioned two top Turkish government officials.
It came as a Turkish delegation returned from the United States, reporting no progress on negotiations involving a US pastor imprisoned in Turkey.
Writing on Twitter, Iran's Foreign Minister Mohammad Javad Zarif also accused Washington of an "addiction to sanctions and bullying".
Erdogan is a self-proclaimed "enemy of interest rates" and has pushed for unorthodox policies like cutting borrowing costs in the face of accelerating inflation.
Erdogan had on Saturday described interest rates as a "tool of exploitation", in remarks that may not be warmly welcomed by the markets.
Turkey's currency fell Friday after its economy was rattled by the United States' move to slap the country with more tariffs.
More news: Trump calls Omarosa a 'low-life'; says Sessions is 'scared stiff'Ahead of the U.S. data, Turkish President Erdogan's speech due at 1100 GMT could also fuel some fresh volatility around the European currency.
