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

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Mr Erdogan appeared unworried by the punitive measures imposed by the United States, saying Turkey could turn to other partners and again terming the crisis an "economic war".

"Aren't we strategic partners?"

Trump stated in an inflammatory tweet that the Turkish lira was weak against "our very strong dollar", adding that "US relations with Turkey are not good at this time".

And the Brunson case is just one of many bones of contention between Turkey and the United States, ranging from Syria to Ankara's increasingly cosy relationship with Moscow.

Erdogan also appeared to allude to a "deadline" for handing over Brunson, although he did not name the United States as having set any such deadline or say precisely when it might have expired.

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In a tweet, he said he was imposing duties of 20 per cent on Turkish aluminium and 50 per cent on steel.

"To further reduce imports of steel articles and increase domestic capacity utilization, I have determined that it is necessary and appropriate to impose a 50 percent ad valorem tariff on steel articles imported from Turkey, beginning on August 13, 2018", Trump said in a proclamation released by the White House.

Regarding the situation of the Turkish currency, Erdogan once again called on his fellow citizens to back the lira, which depreciated 18 percent on Friday, by selling their dollars and euros.

Erdogan also hit back at U.S. authorities for convicting Mehmet Hakan Atilla, 47, deputy director general of Turkish lender Halkbank on charges of helping Iran evade USA sanctions on billions of dollars of oil proceeds.

Recent diplomatic engagements - first between Turkish Foreign Minister Mevlut Cavusoglu and his US counterpart Mike Pompeo in Singapore last Friday, followed by a visit by Turkish Deputy Foreign Minister Sedat Onal and his entourage to Washington on Wednesday - seemed to have failed to resolve the deadlock.

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In addition, foreign investors are disquieted by Erdogan's authoritarian government, which seems to be pursuing imprudent and politically charged economic policies which undercut the independence of the central bank - only worsening Turkey's economic predicament.

President Recep Tayyip Erdogan on Sunday criticized the US, saying Turkey will say "bye bye" to those, who prefer terrorists to their strategic partner.

"They tell us to release the priest by Wednesday 6:00 pm, otherwise the sanctions will begin", said Erdogan, adding Turkey was not a country to agree to such requests.

"They have been trying to achieve what they failed to do through provocations and a coup attempt with money now", he said. Gulen has denied the allegation. He denies the charges.

Turkey and the USA are now experiencing rocky relations following Washington's imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.

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