World News

Erdogan vows to defy United States 'threats' after currency crash

Erdogan vows to defy United States 'threats' after currency crash

President Tayyip Erdogan told Turks on Friday to sell their gold and US dollars to support the country's currency which plunged after US President Donald Trump escalated a feud with North Atlantic Treaty Organisation ally Turkey by doubling tariffs on metals imports.

Relations between Washington and Turkish President Recep Tayyip Erdogan also have worsened because of the detention of three locally employed USA consular workers, trade matters and differences over Syria.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Mr Erdogan told supporters.

Turkey and the United States squabbled last week over Turkey's failure to free a USA pastor named Andrew Brunson from house arrest while he awaits his trial on terrorism charges. Erdogan has appealed to the people to convert their dollars to liras, saying Turkey is in the midst of an "economic war" with the West.

"Aluminum will now be 20% and Steel 50%", President Trump wrote. While many of Turkey's challenges are specific to that country, there are certain characteristics - a heavy debt load following a prolonged, low U.S. interest-rate driven borrowing binge in dollars - broadly shared throughout emerging markets.

Mr Erdogan said although the nations had been allies for decades, Turkey "now has alternatives".

"Because this is the language they understand".

Erdogan said buying the lira was a patriotic duty for Turks, in what has become an "economic war" against foreign powers, most likely referring to the US.

The Turkish lira tumbled 16 per cent against the dollar on Friday.

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. I am calling on those in America again.

More news: Grieving orca still carrying her dead calf more than two weeks later

Turkish officials insist the outcome of Brunson's case exclusively relies on the judiciary, a claim the USA has refused to buy in the light of Erdogan's earlier suggestions to swap him with Turkish opposition exiles residing in the US.

In an op-ed published in New York Times, Erdogan warned Washington not to risk its relations with Ankara, saying otherwise it would look for "new friends and allies".

The lira tumbled 13% in one day, to 6.51 per USA dollar, a massive move for a currency that will make the Turkish poorer and further shake global investors' confidence in the country. Ankara has detained Mr. Brunson for almost two years, accusing him of links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for a failed coup in 2016.

Washington "must give up the misguided notion that our relationship can be asymmetrical", he said in the opinion piece.

The new tariffs announced on Friday come as the United States increases pressure for the release of American pastor Andrew Brunson, who has been in Turkish custody since 2016 on charges of espionage.

"The US and Turkey are breaking up".

Erdogan also yesterday held telephone talks with Russian President Vladimir Putin, discussing economic and trade issues as well as the Syria crisis, the Turkish presidency said.

"We are gearing up for trade in national currencies with China, Russia, Iran, Ukraine, which account for the largest bilateral trade volume".

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.


  • Man City boss Guardiola raps media: More to Premier League than Liverpool!

    Man City boss Guardiola raps media: More to Premier League than Liverpool!

    It's about the mix, when you have a defensive or attacking moment, and I want every player to improve in this way. He adds: "I see Kevin de Bruyne smashing it in terms of the PFA player of the year".

    Premier League results: Chelsea, Tottenham, Bournemouth, Crystal Palace & Watford win

    MF Ruben Loftus-Cheek, 6 - Replaced Barkley in the 68th minute and brought a more physical presence to Chelsea's midfield. That left Vieira with midfielder Bassem Srarfi as a makeshift forward - and the Tunisia worldwide was ineffective.
    Authorities don't believe man who stole plane had a pilot's license

    Authorities don't believe man who stole plane had a pilot's license

    The Pierce County Sheriff's Office said the man, who has been identified as Richard Russell , was 29 years old and "suicidal". Video has surfaced appearing to show the hijacker successfully executing the maneuver, some time before his fatal crash.
  • Heavy security as Charlottesville stores open

    Heavy security as Charlottesville stores open

    Kessler listed the NSM in court papers as among the groups he formally or informally invited to the Charlottesville event . The goal is to keep rally goers and counter protesters separate in order to avoid violent confrontations.
    News Corp tops estimates as Foxtel, books unit drive gains

    News Corp tops estimates as Foxtel, books unit drive gains

    Bloomberg LP, the parent of Bloomberg News, competes with News Corp.in providing financial news and services. Fox is now undergoing another breakup, with a plan to sell most of its TV and film assets to Walt Disney Co.
    Changes to ICBC premiums would see bad drivers pay more

    Changes to ICBC premiums would see bad drivers pay more

    Most customers will fully transition to their new basic premium within three years under the proposed changes. The province said it has directed ICBC to file its application with the BC Utilities Commission next week.
  • Brooks Koepka takes 2-shot lead in PGA Championship at Bellerive

    Brooks Koepka takes 2-shot lead in PGA Championship at Bellerive

    After the slow start on Thursday saw him play the first two holes in 3 over par, he has played the remaining 52 holes in 11 under. At The Open after taking the lead on the back nine, he went double-bogey and bogey before playing the last six holes in 1 under.
    Horizon Air employee had higher-level security clearance, specialized training

    Horizon Air employee had higher-level security clearance, specialized training

    Royal King told The Seattle Times he was photographing a wedding when he saw the low-flying turboprop being chased by two F-15s. At a news conference, officials from Alaska Airlines and Horizon Air said that they were working with authorities.
    Erdogan says Turkey has become 'target of economic war'

    Erdogan says Turkey has become 'target of economic war'

    Turkish President Tayyip Erdogan told a rally Friday that his country would not yield to what he called bullying and blackmail. Washington "must give up the misguided notion that our relationship can be asymmetrical", he said in the opinion piece.
  • 'Stolen' plane closes Seattle airport before crashing into sea

    In addition to disrupting air traffic control, the incident also caused alarm among locals, many of whom recorded the incident. The rogue pilot was aauthorized to operate the equipment that tows airplanes to and from runways.
    Money Dispute Might Force Star Trek Chrises Out Of Franchise

    Money Dispute Might Force Star Trek Chrises Out Of Franchise

    According to THR , the two actors were in the middle of negotiations to star in the upcoming flick but the deal has fallen apart. But to find a new Kirk while every other main cast member returns, as appears could be the case, would be a little unusual.

    PGA Championship: Tiger Woods flirting with cut line

    Open champion Brooks Koepka , who had a 20-foot birdie putt he wanted to make for no other reason than he likes to make birdies. Open each of the last two years. "Honestly, I haven't hit it great, up to my standards, these first couple days", Finau said.