Erdogan says Turkey to 'boycott' US electronic goods

Traders work on the floor of the NYSE in New York

On August 13 he accuses the United States of seeking to stab Turkey "in the back". We can react in two ways: "economically and politically", Erdogan said in Ankara Tuesday.

Turkish lira plunged on concerns over the deepening rift between Washington and Ankara, hitting a record low of 7.24 against USA dollar and weakening some 45 percent so far this year.

Traders said news that Finance Minister Berat Albayrak will hold a conference call with up to 1,000 investors to discuss the economy might also have helped support the currency.

Actress Ebru Özkan was released the next day, while the pastor was moved from prison to house arrest.

The current crisis was sparked by Ankara's refusal to release pastor Andrew Brunson, who is now under house detention on terror-related charges and espionage.

Separately, Russian Foreign Minister Sergey Lavrov, on an official visit to Ankara, said the increased U.S. tariffs and sanctions imposed by Washington are "based on the desire to dominate everywhere in everything, to control worldwide affairs and to achieve unilateral advantages on global markets. In our country, there is Venus Vestel", he said, referring to a Turkish-made smartphone.

The evangelical pastor is on trial for terrorism charges.

"There is an economic attack against Turkey".

Lavrov says that Washington's policies will undermine the dollar's position as the global reserve currency of choice.

Market analysts broadly welcomed his comments but said investors wanted to see action. "Expect more stress if the Fed continues to look past the emerging market turmoil (like it did in May) and keeps to gradual rate hike path", they said. It was not clear when the court would consider the appeal.

Embattled Anti-Trump Agent Peter Strzok Fired from Federal Bureau of Investigation
Aitan Goelman, Strzok's attorney, said FBI Deputy Director David Bowdich ordered the agent's termination on Friday. During the 2016, Strzok would regularly text with attorney Lisa Page expressing his distaste for Trump.

U.S. President Donald Trump said Friday he will authorize higher tariffs on Turkish steel and aluminum.

Brunson, 50, is being tried on espionage and terror-related charges, which he and the US government vehemently deny. Mr Brunson, who faces up to 35 years in jail if found guilty, denies the charges.

Turkish Foreign Minister Mevlut Cavusoglu told reporters that the top US diplomat in Turkey would visit Brunson later Tuesday.

Erdoğan has today threatened to boycott American-made electronic goods in response to United States sanctions against Turkey that sent the value of its currency, the lira, into freefall. However, other countries - such as Mexico and South Africa - also took advantage of low United States interest rates in the years after the financial crisis to borrow heavily in dollars and saw their currencies coming under pressure.

"If they have the iPhone on the other hand there is Samsung". He suggested Turks would buy local or Korean phones instead of US -made iPhones, though it was unclear how he meant to enforce the boycott.

The currency was sent into freefall on Friday, crashing by over 20% to a fresh record low during a frantic session of trading that wreaked havoc in the foreign exchange markets.

Angered by the continued detention of an American pastor, the US has imposed new sanctions on Turkey which Foreign Minister Heiko Maas told reporters Monday has increased political tensions.

The business groups also urged the drawing up of a roadmap to reduce inflation.

USA pressure has created a currency crisis in Turkey with the lira plummeting to a record low of 7.20 against the dollar on Monday before strengthening to 6.61 on Tuesday. It was up 5 percent on Tuesday, at 6.55 per dollar, having fallen 42 percent so far this year, with most of those losses coming in recent weeks. The country's finance minister - who is also Mr Erdogan's son-in-law - will seek to reassure around 1,000 global investors in a teleconference scheduled for Thursday.

Related News:

  • Highway bridge collapses in Genoa in northern Italy

    Highway bridge collapses in Genoa in northern Italy

    Fire brigade sources said that tens of people have died after a section of a highway bridge in Genoa collapsed on Tuesday. Other images showed a green truck that had stopped on the bridge just yards short of the gaping hole in the road surface.
    Turkish economy is solid, strong: President Erdogan

    Turkish economy is solid, strong: President Erdogan

    More than a third of Turkish banks' lending is in foreign currencies, according to Reuters . The fear is of a full-blown emerging market crisis.
    Andy Murray out of Cincinnati Masters after losing to Lucas Pouille

    Andy Murray out of Cincinnati Masters after losing to Lucas Pouille

    Tsitsipas rallied from a set and 5-2 down to turn the tables on Zverev, who had been bidding for a fourth Masters 1000 title. Tsitsipas did then eked out a set point on the Nadal serve which the Spaniard saved with the help of a net cord.
  • England cricket star Ben Stokes found not guilty of affray

    England cricket star Ben Stokes found not guilty of affray

    They are said to have walked off with Mr Hale and Ali. "I just didn´t want any trouble so I was backing away, trying to retreat". He said his memory of the evening was "incomplete" because of the head injury he suffered when he was knocked out by Stokes.
    North and South Korean leaders to meet in Pyongyang in September

    North and South Korean leaders to meet in Pyongyang in September

    Moon was part of the South Korean delegation which travelled to Pyongyang for the second inter-Korean summit held in October 2007. South Korean unification minister Cho Myoung-gyon would only said officials still had work to do before agreeing on a date.
    Hundreds injured as platform falls into sea at Spanish music festival

    Hundreds injured as platform falls into sea at Spanish music festival

    Radio Galega said 266 people were injured at the O Marisquino festival in Vigo , a town in the Galicia region. The drama happened at the start of the last day of the three-day festival, which is in its 18th year.
  • Jurgen Klopp not surprised by Naby Keita's impressive debut

    Jurgen Klopp not surprised by Naby Keita's impressive debut

    And after the first round of games, Liverpool sit top of the table, sending a clear message of intent to City. Since the inclusion of the German, Jurgen Klopp , the club has seen an increase in nearly everything.
    Omarosa Manigault Newman Releases Firing Tape

    Omarosa Manigault Newman Releases Firing Tape

    Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. Trump lawyer Rudy Giuliani fumed Monday morning on "Fox & Friends" that Manigault Newman came off as arrogant.
    Iran’s Khamenei rules out war, talks with U.S.

    Iran’s Khamenei rules out war, talks with U.S.

    The sanctions target Iran's trade in gold and other precious metals, its purchases of United States dollars and its auto industry. The 2015 agreement placed tight controls on Tehran's nuclear program in exchange for the lifting of global sanctions.
  • Meghan Markle’s mum Doria Ragland is ‘moving to the UK’

    Meghan Markle’s mum Doria Ragland is ‘moving to the UK’

    The Hollywood couple nearly stole the show when they arrived at Prince Harry and Meghan Markle's star-studded nuptials in May. Harry is on a private working visit to Botswana with his charity Rhino Conservation, Kensington Palace confirmed last week.
    Kevin and Keelan Harvick win Consumers Energy 400

    Kevin and Keelan Harvick win Consumers Energy 400

    Kevin Harvick continues to dominate the Monster Energy NASCAR Cup Series , and he's doing it with company by his side. His season win total (seven) is already a single season career high - with 13 races still remaining on the calendar.

    Iran’s Khamenei blames mismanagement more than United States sanctions for economic woes

    Trump's offer of talks as "a unsafe game" and his administration as a "bullying, fraudulent regime". The protests over the cost of living have often turned into anti-government rallies.


Most liked

Pogba "Determined" To Become Leader And Stay At Manchester United
Cryptically, Pogba followed up with "There are things that I can not say otherwise I will get fined". For me, it was a dream come true.

Nasa spacecraft heads to sun for closest look yet
The mission is named for Eugene Parker , the physicist who first theorized the existence of the solar wind in 1958. The Parker Solar Probe during final pre-launch processing, its white heat shield visible at the top.

Trump calls former aide Omarosa a 'crazed, crying lowlife' and a ’dog’
But instead, as I stated, there was a report that said he has said something like 4,000 lies since he's taken office. She added that the remarks were made in reference to Kwame Jackson, an African American contestant on the show.

Chad Kelly to replace Paxton Lynch as No. 2 quarterback for Broncos
He's played with poise, he's played with confidence. "We'll move on from that and work on Chicago". He played well Saturday night. "He deserves a chance to be the [second-string] guy right now".

Aretha Franklin is 'alert and laughing' at home
Franklin was awarded the Presidential Medal of Freedom - the highest award for an American civilian - by then-president George W. Woods and others in the neighborhood say Aretha has always truly stuck to her roots.

Tiger wakes up the echoes with best major final round
Woodland, who has made great strides in his smooth, powerful swing working with Butch Harmon, has time to become that hot player. When Woods withdrew after the opening round of the Dubai Desert Classic in February 2017, he had fallen all the way to No.674.

Rupee fall due to external factors: Government
The rupee has been among the worst performing currencies against the dollar compared with its peers so far this year. Previously, the rupee had dropped 2.4 percent or 148 paise in a single day in August 2013.

Google Play shows warning to anyone searching for Fortnite APKs
Unfortunately, most users won't get past the sign-in process as only invited players will be able to launch the game. Epic Games' decision to not list Fortnite on Play Store is a huge loss for Google .

OMAROSA UNHINGED? Reality villainess targets Trump! Which side are you on?
Trump adviser Kellyanne Conway appeared on the same show Sunday and said she wouldn't be working for Trump if he was racist. Pierson said flatly, "No Ed, that did not happen", after Ed Henry read Manigault's claims from page 149 of her book.

Omarosa’s White House recordings fuel Trump woes
Ouch! Her promotional tour is going to be a very short one if she keeps being rude to her interviewers. According to excerpts of her forthcoming memoir released to The Guardian , Omarosa said Mr.

Mystery Blast in Northern Syria Kills at Least 36
While some attacks have been claimed by Daesh, most are the result of infighting since past year between various other groups. Idlib is the last of four "de-escalation" zones agreed by world powers in 2017 where the rebels still have a major presence.

Florida man charged with manslaughter in 'stand your ground' case
Alleged shooter Michael Drejka, 47, was taken into custody on Monday, the Pinellas County Sheriff's Office said in a statement. Surveillance footage shows McGlockton walking out of the store and shoving Drejka to the ground.

Injuries, suspensions and line-up vs Manchester City
Liverpool undoubtedly look like a stronger side, but have they done enough to close the 25-point gap between themselves and City? Manchester City manager Pep Guardiola says he is relaxed about his team being Premier League title favourites once again.

Ronaldo scores in Juventus v Juventus B match
That's a great sign for Juve . "I know Real Madrid well and all that counts, even for Florentino Perez, is the club". With the superstar's move to Juventus , the Italian giants will look to extend their dominance to Champions League.

Deflategate Part 2: NFL Investigating Steelers Use of Deflated Balls in Preseason
Less than 12 hours later, the NFL sent a memo to reporters at the league owned network that basically said, "nothing to see here". There was optimism surrounding the move, with Oakland coach Jon Gruden lauding the quarterback back in his ESPN days.