Turkey Escalates Feud With U.S. By Increasing Tariffs on American Imports


The more diplomatic line than Trump's, calling for his "immediate release", was not meant to signal a change in policy, Nauert said Tuesday.

For Alistair George at Edison Investments, Turkey serves as an "example of the effects of tighter USA dollar funding conditions in combination with adverse geopolitical developments". He was born on January 3, 1968 in Black Mountain.

"Russia would be Turkey's more likely security partner before China, since the two countries already have a working relationship in Syria".

Brunson works as a pastor at the small Izmir Resurrection Church and leads a congregation of around two dozen.

Turkish President Recep Tayyip Erdogan has repeatedly described the dispute with the USA with as an "economic war" that Ankara will win.

Turkey has also been publicly critical of criminal prosecutions in the USA involving state-run Halkbank official Mehmet Hakan Atilla, as well as Reza Zarrab, a Turkish-Iranian gold trader.

Brunson, who faces up to 35 years in prison if convicted, has always maintained his innocence.

Tillis, who has observed part of Brunson's trial, described it as "truly a kangaroo court" with secret witnesses.

His wife, Norine, was initially arrested alongside him but was released after 13 days.

Turkey is now grappling with a currency crisis and heightened tensions with the United States, its North Atlantic Treaty Organisation ally.

President Trump has since intervened and called for the pastor's immediate release.

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"This visit, at the same time, is an indicator that Qatar stands with Turkey", Ibrahim Kalin, a spokesperson for the Turkish president, told reporters at a press conference on Wednesday.

Erdogan blamed the crash of the lira on America, claiming a "political, underhand plot" had sent the value of his country's currency falling to record lows.

Brunson is at the moment under house arrest.

Last Friday, U.S. President Donald Trump said he had authorized higher tariffs on aluminium and steel imports from Turkey.

Businessmen holding USA dollars stand in front of a currency exchange office in response to the call of Turkish President Tayyip Erdogan on Turks to sell their dollar and euro savings to support the lira, in Ankara, Aug. 14, 2018.

Markets are concerned by Erdogan's influence over the economy and his resistance to interest rate increases to tackle double-digit inflation.

Turkey doubled tariffs on some USA imports including alcohol, cars and tobacco on Wednesday in retaliation for US moves, but the lira rallied further after the central bank's liquidity moves had the effect of supporting the currency.

What are the new sanctions?

The decree said the move brought tariffs to 50 percent on imports of U.S. rice to 140 percent on hard alcoholic drinks like spirits, 60 percent in leaf tobacco and 60 percent on cosmetics.

The appreciation of the lira also comes just hours after the Turkish government hit numerous American goods being imported to the country with punitive tariffs.

Vice President Fuat Oktay tweeted that the new tariffs were retaliation for "the deliberate attack of the USA administration on our economy", CNN said.