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13 August 2018, 02:22 | Vera Richards
An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters File
On Friday, US PresidentDonaldTrump announced to double steel and aluminum tariffs on Turkey, saying relations between Washington and Ankara "not good" as tensions mount between the two countries.
"It is making an operation against Turkey ..."
The lira dropped by 17 percent against the United States dollar at one point on Friday, which has people anxious that Turkey's crisis could harm worldwide markets.
Erdogan renewed his call for Turks to sell dollars and buy lira to boost the currency, while telling business owners to not stockpile the American currency. "With God's permission we will overcome this", he added.
ISTANBUL - Turkish President Tayyip Erdogan said on Sunday the current level of the lira and fluctuations in the exchange rate could not be explained by logic, and its recent plunge showed a plot against Turkey.
"Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks".
"The price of the food that I buy increases day by day, the fuel that I put in my auto to distribute lunches is more expensive, but I can not raise my prices from one day to the next", she said. "You should know that to keep this nation standing is. also the manufacturers" duty".
Turkey President Recep Tayyip Erdogan hit back at United States "threats" on Saturday, as a diplomatic rift between Ankara and Washington over a jailed American pastor widens.
"We will respond to those who declared trade war on the entire world and included Turkey in it, by steering towards new alliances, new markets", he said, raising questions in the future partnership between Ankara and Washington. "Some close the doors and some others open new ones".
In the New York Times, Erdogan warned Washington not to risk relations with Ankara, saying otherwise his country would look for "new friends and allies".
He further added that the only response to a country which chooses to sacrifices its strategic partnership and a half century alliance with a state with a population 81 million for the sake "terror groups" is "good-bye".
Russian Federation would consider it an economic war if the United States imposed a ban on banks or a particular currency, Prime Minister Dmitry Medvedev said on Friday, the TASS state news agency said.
In a separate opinion piece in the pro-government newspaper Daily Sabah, Erdogan's spokesman Ibrahim Kalin said Turkey's efforts to solve the crisis with diplomatic methods had been dismissed by the Trump administration, warning that "the USA runs the risk of losing Turkey" as an ally. Trump has described his detention as a "total disgrace" and urged Erdogan to free him immediately.
The United States sanctioned Turkey for imprisoning an American priest on bogus charges.
A Turkish delegation visited Washington for talks this week but left with no signs of a breakthrough.
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