Turkey's tariff hikes on United States products 'regrettable': White House

Turkey's tariff hikes on United States products 'regrettable': White House

Erdogan has reacted to the financial instability by blaming foreign powers, in particularly the United States, a longtime North Atlantic Treaty Organisation ally, which he says is waging an "economic war" as part of a plot to harm Turkey.

"The president has a great deal of frustration (about) the pastor not being released", White House press secretary Sarah Sanders said Tuesday. On Tuesday, he said Turkey would boycott USA electronic products.

Speaking in ideal Turkish, Brunson told the court he "forgives" those who provided testimony accusing him of links with the PKK and Gulen's group.

American pastor Andrew Brunson is being held on terrorism charges in Turkey, facing up to 35 years in prison for his alleged role in a failed coup in 2016.

Turkey and Qatar have traditionally maintained good ties and Ankara stood by Doha after Saudi Arabia and other Arab states severed diplomatic, trade and travel ties with Qatar previous year, accusing it of financing terrorism, a charge Doha denies.

Earlier on Wednesday, Turkey said it was increasing tariffs on imports of certain USA products in response to American sanctions on Ankara that caused the value of the lira to plunge.

Kadir Temiz, an worldwide relations expert at Istanbul Sehir University, said the US-Turkey crisis was an opportunity to step up Sino-Turkish relations.

Earlier in the week, President Recep Tayyip Erdogan asked Turkish citizens to boycott the use of American technology like iPhones, in response to USA tariffs levied late last week.

"They don't hesitate to use the economy as a weapon", he said.

Monsanto ordered to pay $289 million in cancer lawsuit, Bayer shares slide
Monsanto, which continued to deny that its product is risky , vowed to appeal what Litzenburg described as a historic jury award. Glyphosate, which is most commonly sold under the name Roundup, is a wildly popular herbicide manufactured by Monsanto .

His arrest received relatively little media coverage at the time and efforts by USA officials to release him were given initially only a very low profile in public.

"Turkey does not favour an economic war, but it can not remain unresponsive when it is attacked", said Ibrahim Kalin, a spokesperson for President Recep Tayyip Erdogan.

The lira firmed as far as 5.75 against the dollar on Wednesday and stood at 6.1320 at 1243 GMT in a move initially triggered by the Turkish court decision on the Greek soldiers who faced espionage charges.

The crisis has sent the Turkish currency into free fall since Friday.

Sheikh Tamim is the first foreign head of state to visit Turkey since the stand-off between Ankara and Washington started last week.

Turkey's central bank on Monday announced it was ready to take "all necessary measures" to ensure financial stability after the collapse of the lira, promising to provide banks with liquidity. But world stock traders were dismayed the bank did not raise interest rates, which is what many economists believe is necessary to ease the crisis. Turkey's exports to the United States previous year amounted to $8.7 billion, making it Turkey's fifth-largest export market.

In a phone conversation the leaders agreed to strengthen bilateral ties and Merkel told Erdoğan the strength of Turkey's economy was important to Germany, a presidential source told Reuters.

The lira had rebounded about 8 percent on Tuesday on news of a planned conference call on Thursday in which the finance minister will seek to reassure global investors.

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