'I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!' Trump said in an early morning post on Twitter.
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.
US President Donald Trump said Friday he had doubled steel and aluminium tariffs on Turkey, which pushed the Turkish lira to new historic lows against the dollar.
All eyes will be on the lira when foreign exchange markets reopen on Monday after the weekend pause. "Its aim is to force Turkey to surrender in every field from finance to politics, to make Turkey and the Turkish nation kneel down", Erdoğan said in a speech at the ruling Justice and Development Party's (AKP) meeting in the Black Sea province of Trabzon on August 12.
"We are once again facing a political, underhand plot. With God's permission we will overcome this", he added. He tweeted, "Our relations with Turkey are not good at this time!"
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.
"We can only say "good-bye" to anyone who sacrifices its strategic partnership and a half century alliance with a country of 81 million for the sake of relations with terror groups", he said. It is wrong to try to punish Turkey for a priest who is here. Trump has described his detention as a "total disgrace" and urged Erdogan to free him immediately.
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Manigault Newman also describes Trump as a man who "loved conflict, chaos and confusion; he loved seeing people argue or fight". She was sacked in December of 2017 for, it was reported , taking advantage of perks like the White House auto service.
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The latest escalation between Ankara and Washington was denounced by the Turkish press, with pro-government daily Sabah saying "the currency attack" was no different from the attempted coup of July 2016.
In Trabzon, Erdogan confirmed media reports that Washington gave Onal's delegation a deadline for the release of Brunson.
The sanctions will freeze the U.S. assets of Turkey's minister of justice, Abdulhamit Gul, and its minister of interior, Suleyman Soylu.
Markets have been deeply concerned about the direction of domestic economic policy under Erdogan with inflation hovering around 16% as the central bank refuses to raise interest rates in response.
The Turkish strongman also lashed out at interest rates, denounced them as a "tool of exploitation" which should be kept as low as possible.
Turkey's currency fell Friday after its economy was rattled by the United States' move to slap the country with more tariffs.
President Recep Tayyip Erdogan vowed Saturday to defy United States "threats" over a detained pastor, showing no signs of concessions in a bitter row that has caused the Turkish lira to crash.