Turkey Warns the USA about Danger of Losing Strategic Partner

Turkish delegation returns home after meeting in US
Economic turmoil hits Turkey, US bank stocks react

13 August, 2018

"They tell us to release the priest by Wednesday 6pm, otherwise the sanctions will begin", Mr Erdogan said, revealing details of talks between the North Atlantic Treaty Organisation allies in Washington on Wednesday.

The United States slapped sanctions on two Turkish officials earlier this month over a detained American pastor who is being tried on espionage and terror-related charges.

Washington in response sanctioned two Turkish ministers, and Trump on Friday tweeted it was doubling tariffs on steel and aluminium imports from Turkey, adding that relations with Ankara were "not good at this time".

The US has demanded the release of Andrew Brunson and on Friday doubled tariffs on steel and aluminium imports.

He indicated Turkey's relationship with Washington was imperiled.

All eyes will be on the lira when foreign exchange markets reopen on Monday after the weekend pause.

The marked drop came as Turkey's current strains with the United States showed no sign of abating.

Erdogan said Turkey act in accordance with the law, saying: "We have not made concessions on justice so far, and we will never make any". "Nobody should try to make us fall into this trap, we won't be fooled by this plot, nobody should get excited".

"Failure to reverse this trend of unilateralism and disrespect", he added, "will require us to start looking for new friends and allies".

Mr. Erdogan repeated his call for Turks to sell dollars and buy lira to shore up the currency, while telling business owners not to stock up on dollars.

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On Friday, he said the country had to take steps in answer "to those who have waged an economic war against us". Aluminum will now be 20% and Steel 50%", Trump said in a tweet.

He 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.

The pastor has been held since 2016, charged with "committing crimes on behalf of terror groups without being a member", a reference to Kurdish separatists and a group that President Recep Tayyip Erdogan blames for a failed 2016 coup attempt against him. Mr. Trump tweeted Friday morning.

High level meetings in Washington between US and Turkish officials ended this week without an apparent resolution.

But experts argue that the central bank should instead raise interest rates to ease inflation and to support the currency.

What are Mr Erdogan's latest comments?

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.

His tone echoed that of a speech given on Thursday when he told supporters that "if they have dollars, we have our people, our righteousness, and our God".

"You arrest my Halkbank general deputy director?"

Turkish President Recep Tayyip Erdogan speaks during a press conference at the Presidential Complex in Ankara where he announced the upcoming electoral timetable on April 18, 2018.President Recep Tayyip Erdogan called snap elections in Turkey for June 24, bringing the polls forward by over a year-and-a-half to sharply accelerate the transition to a new presidential system.

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