Erdogan Warns Turkey's Partnership With US 'In Jeopardy'

Erdogan Warns Turkey's Partnership With US 'In Jeopardy'

Mr Erdogan has spoken out after US President Trump doubled punishing tariffs on the nation adding that those responsible "think they can destroy Turkey".

Reminding the world of the time when Turkey rushed to America's help whenever necessary, during the past six decades, Erdogan recounted Turkish contribution in defusing the Korean and Cuba missile crises, and sending troops to Afghanistan in the wake of the September 11 terror attacks.

Turkey's currency crisis has lurched on to the global stage, denting European and United States stocks as fears of contagion rise.

Turkey's woes also shook world markets, pushing down stock indexes.

The Turkish lira dropped dramatically against the dollar Friday, losing more than 18 percent of its value in one day - worsening an already months-long decline for Turkey's currency.

With the currency diving, Trump authorized higher tariffs on Turkish imports on aluminum and steel of 20% and 50% respectively.

Trump added that the Turkish currency Lira "slides rapidly downward against our very strong Dollar!" "Our relations with Turkey are not good at this time!".

I hope we can soon get Pastor Brunson and other Americans released in a win-win fashion for both the United States and Turkey."Trump's move to double tariffs on Turkey was even praised by one of the president's most frequent Democratic critics.

"If they have their dollar, we have the people, we have Allah", he said, appealing to his religious Muslim base. On Thursday Ergodan said Turkey will withstand the economic pressure.

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Turkey had alternatives "from Iran, to Russian Federation, to China and some European countries", he added.

Turkey was hit by a financial shockwave this week as its currency nosedived over concerns about the government's economic policies and a trade dispute with the United States.

Trump announced the punitive doubling of steel tariffs, which were imposed in protest over the detention of Andrew Brunson, a pastor, who was arrested on terrorism charges after the attempted coup against Erdogan in 2016, saying: "Our relations with Turkey are not good at this time!".

Mr Erdogan yesterday repeated a call to Turks to help support the lira to win what he described was a "war of independence".

"If you have dollars, euros or gold under your pillow, go to banks to exchange them for the Turkish lira".

"Officials are reportedly preparing stimulus measures in a bid to prop up growth, but these would simply exacerbate Turkey's economic vulnerabilities and could ultimately tip the country into a full-blown crisis, " Capital Economics said in a commentary. Gulen denies the allegation.

The lira's slide came after a USA delegation from Washington, D.C., left Turkey without making progress toward the release of Andrew Brunson, an American pastor detained by Erdoğan's government since 2016.

His cause resonates with Trump's Christian conservative supporters, who could be influential as Republicans seek to retain control of Congress in midterm elections in November.

But on Friday, there was another distinct element that made things worse: a tweet from President Trump. And under Turkey's new executive presidential system, Erdogan pretty much calls all the shots.

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