Turkey's president: United States waging 'economic war' against Turkey

Turkey's president: United States waging 'economic war' against Turkey

Turkey's president: United States waging 'economic war' against Turkey

"Our relations with Turkey are not good at this time!".

The Turkish president repeated his call for Turks to support the lira by converting any dollars or euros they own into the national currency.

Last Friday, Turkish Foreign Minister Mevlut Cavusoglu and his US counterpart Mike Pompeo met in Singapore on the sidelines of the Association of Southeast Asian Nations foreign ministers' meeting.

Brunson was indicted for allegedly having links with the outlawed Kurdistan Workers' Party and Fethullah Gulen, an exiled Turkish preacher who has allegedly masterminded the failed coup attempt in 2016 to topple Erdogan.

Ankara and Washington also disagree over their military interventions in the Syria war, Turkey's plan to buy missile defense systems from Russian Federation and the U.S. conviction of a Turkish state bank executive on sanctions-busting charges in January.

Observers have noted how fighting for Mr Brunson's cause is likely to be popular with Mr Trump's evangelical base ahead of crucial mid-term elections this November.

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. Turkey answered the March tariff announcement by placing its own tariffs on $267 million of USA goods.

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Turkey is now under a 25 percent tariff on imported steel and 10 percent on aluminum, which went into effect in March. "Without Turkish cooperation, US goals in Syria, Iran, Russia, and even Europe become more hard".

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. There are multiple factors, many of which are related to the economic policies of Turkey's leader, Recep Tayyip Erdogan.

Erdogan has been putting pressure on Turkey's central bank to not raise interest rates in order to keep fueling economic growth.

The Turkish strongman also lashed out at interest rates, denounced them as a "tool of exploitation" which should be kept as low as possible.

The euro slid sharply against the dollar after the announcement as it was reported that the European Central Bank was concerned about the performance of the lira and the impact it was having on European financial institutions. If there is anyone who has dollars or gold under their pillows, they should go exchange it for liras at our banks. "This is a national, domestic battle", he told a crowd in the northeastern city of Bayburt, according to Reuters.

Erdogan's speech came after the New York Times published an op-ed by the Turkish president, in which he said the U.S. has "repeatedly and consistently failed to understand and respect the Turkish people's concerns", adding that "in recent years, our partnership has been tested by disagreements".

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