White House denounces Turkey tariffs on USA products

Turkey's situation does not have economic basis banker

In response, Erdogan launched a boycott of USA electrical products and sharply raised tariffs on other United States imports.

The new Turkish tariffs came a day after President Recep Tayyip Erdogan said his country would boycott USA electronic goods, singling out Apple's iPhones.

The pastor row is one of several between the North Atlantic Treaty Organisation allies, including diverging interests in Syria and US objections to Ankara's ambition to buy Russian defense systems, that have contributed to instability in Turkish financial markets.

Turkish Finance Minister Berat Albayrak, who is Erdogan's son-in-law, and his Qatari counterpart Ali Sharif Al-Emadi were also present at the talks in the capital. The lira lost almost 40 percent against the dollar this year and suffered a staggering collapse on the heels of Trump's announcement of increased tariffs on metals.

The lira, which has weakened 40 percent against the dollar this year, hit a record low of 7.24 at the start of this week but it eased to 5.98 by 0443 GMT from a close of 5.95 after the central bank took liquidity measures and curbed selling of the currency.

The move came after U.S. President Donald Trump last week ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

White House spokeswoman Sarah Huckabee Sanders said "the tariffs from Turkey are certainly regrettable and a step in the wrong direction".

Washington imposed sanctions and tariffs over the continued detention of an American pastor, while Turkey retaliated with some $500 million of tariffs on some USA imports and said it would boycott US electronic goods.

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Kyle Edmund also went out in the second round, losing in straight sets to the 19-year-old Canadian Denis Shapovalov. It was the world No 2's first appearance at the tournament since winning the title in 2015.

The United States sanctioned Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu, blaming both for being involved Brunson's arrest and detention.

The country's currency, the lira, has fallen sharply against the US dollar in recent weeks but rebounded after the aid announcement.

Optimism about better relations with the European Union after a Turkish court released two Greek soldiers pending trial and a banking watchdog's step to limit foreign exchange swap transactions have also helped the lira.

"No one has an interest in the economic destabilization of Turkey", Merkel said in Berlin this week.

"Rates have gone up by 10 percent ..." "If they have the iPhone, there is Samsung", the Turkish president said.

In an interview Wednesday with Anadolu Agency, Qatar's Ambassador to Turkey Salem bin Mubarak Al-Shafi said: "The state of Qatar is always proactive in supporting its Turkish brothers".

There was no resolution to the Brunson case in sight.

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