Published: Sun, August 12, 2018

Iran denounces Trump's tariffs targeting Turkey

Iran denounces Trump's tariffs targeting Turkey

Zarif's remarks came a day after Trump ramped up his attack on Turkey by doubling USA tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

The decision was made as tensions mount between the two nations over the imprisonment of Andrew Brunson, a 50-year-old evangelical pastor, and other diplomatic issues.

The Turkish lira on Friday hit a record low following President Donald Trump's announcement he was doubling United States tariffs on Turkish metals.

He reiterated his call on citizens to change US Dollars and Euros for the Turkish Lira in the face of a sharp plunge his country's currency witnessed in financial markets this week. With God's permission we will overcome this'. "Our relations with Turkey are not good at this time!"

Turkey's President Recep Tayyip Erdogan in Rize spoke of Turkey's plans to trade in local currencies with some countries.

"We will give our response to the person - who declares war against the whole world including our country - by turning towards new markets, new partners and new alliances", Erdogan added.

Erdogan 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.

It said it would support steel and aluminium exporters on all worldwide platforms, and the U.S. remained an important trade partner. It is wrong to try to punish Turkey for a priest who is here.


Turkish officials held talks in Washington this week but there was no breakthrough.

The embattled Turkish lira tumbled over 16 percent to new record lows against the dollar as strains with the United States intensified over a number of issues including the detention of a pastor as well as Washington's cooperation with Syrian Kurdish militia force in the fight against Islamic State.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan said in the Black Sea town of Unye.

Analysts say that while Washington's sanctions against Ankara sparked the immediate crisis, Turkey's economy has been risking trouble for a while due to high inflation and the weak lira.

Erdogan had on Saturday described interest rates as a "tool of exploitation", in remarks that may not be warmly welcomed by the markets.

And the Brunson case is just one of many bones of contention between Turkey and the United States, ranging from Syria to Ankara's increasingly cosy relationship with Moscow.

President Recep Tayyip Erdogan vowed Saturday to defy USA "threats" over a detained pastor, showing no signs of concessions in a bitter row that has caused the Turkish lira to crash.

"You arrest my Halkbank general deputy director?" The White House said he had authorised them under a section of U.S. trade law that allows for tariffs on national security grounds.

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