Turkey 'implores' Trump to return to table on tariffs
Turkey 'implores' Trump to return to table on tariffs
Turkey's president: US waging 'economic war' against Turkey
13 August, 2018, 00:16
President RecepTayyipErdoğan has said that Turkey will respond to trade wars by seeking new alliances and heading to new markets, referring to U.S. President Donald Trump's decision to double the tariff on Turkish steel and aluminum.
"Don't heed them. Don't forget, if they have their dollars, we have our people, our God", Erdogan said.
The Turkish lira has lost about 40 per cent of its value this year, largely over worries about Mr. Erdogan's influence over the economy, his repeated calls for lower interest rates in the face of high inflation and worsening ties with the United States.
Prior to Trump's announcement, the Turkish lira fell to its lowest point ever against the US dollar on Friday. "Exit of funds from the Turkish financial markets can be an opportunity for the Egyptian economy as a competitive market in the same region".
U.S. State Department spokesperson Heather Nauert said Thursday that Washington "would define progress as Pastor Brunson being brought home". "You are trading a strategic North Atlantic Treaty Organisation ally for a pastor", Erdogan said Saturday. decision to sanction Turkey for its imprisonment of an American priest.
"We will give our answer, by shifting to new markets, new partnerships and new alliances, to the one who waged an economic war against the entire world and also included our country", Erdogan said.
In a Friday opinion piece for the New York Times, though, he used a milder tone to restore ties before it is too late, reminding of long-standing relations the United States established with Turkey over half a century ago upon its accession into North Atlantic Treaty Organisation.
The two governments have been at odds over a wide range of topics - from diverging interests in Syria, to Turkey's ambition to buy Russian defence systems, and the case of evangelical pastor Andrew Brunson, who is on trial in Turkey on terrorism charges.
Erdogan warns Trump Ankara may seek ‘new friends’
Erdogan downplayed the currency crisis in a speech on Friday, advising Turks not to be anxious over exchange rate fluctuations. Late on Friday, the rand was trading at more than R14 to the dollar, its worst point since a credit downgrade in November.
A delegation led by Turkish Deputy Foreign Minister Sedat Onal failed to secure a deal last Wednesday in talks in Washington on a number of issues including Mr Brunson.
Another source of frustration relates to the partnership between the United States and the Syrian branch of the P.K.K., a terrorist organization that is responsible for the deaths of thousands of Turkish citizens since 1984.
Turkey then retaliated by slapping import duties on $1.78 billion worth of USA products, including coal, paper, nuts, whiskey, autos, machinery and petrochemicals. United States stocks were also rattled. Gulen denies the allegation.
A Turkish court has transferred Brunson to house arrest after nearly 20 months in jail.
"Nevertheless, we implore President Trump to return to the negotiating table - this can and should be resolved through dialogue and cooperation".
His cause resonates with Trump's Christian conservative supporters, who could be influential as Republicans seek to retain control of Congress in midterm elections in November.
"On Trump's recent proposal (of talks), our official stance was announced by the president and by us".
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