Published: Fri, August 17, 2018
Finance | By Jaime Brady

Trump attacks Turkey, vows to pay 'nothing' for United States pastor's release

Trump attacks Turkey, vows to pay 'nothing' for United States pastor's release

The following content is sourced from external partners.

Turkey has sought to persuade the United States to spare Turkey's state-owned Halkbank from a threatened fine for allegedly helping Iran evade US sanctions.

The announcement follows Turkish President Recep Tayyip Erdoğan's call for a boycott of US electronics, including Apple's iPhones to counter Trump's actions to ramp up pressure on Turkey to release Brunson.

In reality, a number of issues have come between the two North Atlantic Treaty Organisation allies, not least Turkey's plan to purchase the Russian-made S-400 anti-aircraft weapons system. The decision came after Qatar's emir, Sheikh Tamim bin Hamad Al Thani, met with Turkish President Recep Tayyip Erdogan in Ankara.

The Qatari money will be channelled into banks and financial markets, a Turkish government source told Reuters.

The currency had rebounded some 6 percent on Wednesday after the central bank squeezed lira liquidity in the market, effectively pushing up rates and supporting the currency.

The Turkish lira TRY= rose 2.7 percent to 5.80 per dollar.

The dispute with the United States, focused on a tit-for-tat tariff row and Turkey's detention of Brunson, helped turn the currency's steady decline into meltdown.

Gold prices in line with the emerging market currencies rout, triggered by Turkey's Lira and China's economic woes, reduced to its over 19-month low price levels.

U.S. Treasury Secretary Steven Mnuchin says the United States is ready to impose more sanctions on Turkey if detained American pastor Andrew Brunson is not released from house arrest.

Horrifying Moment Driver Ploughs Car Into Pedestrians Outside UK Parliament
The auto crash that occurred early this morning at the Houses of Parliament is being treated as a potential terrorist incident. London's mayor is urging residents and tourists to remain calm and vigilant following the latest terror attack in the city.

Tiger Woods 'excites' Jim Furyk ahead of Ryder Cup
And for all the craziness that went down at Bellerive, there was no real movement among the eight players who secured their spots. We'll all sit down and give him our input, who can contribute. "And hopefully my name will be part of that process".

Family responds to rumors and Beyonce and Jay-Z pay tribute
"Family is there with her", he said of the singer, who was diagnosed with cancer in 2010. She is also surrounded by her family and friends according to U.S. media.

On Wednesday, Turkey announced tariff hikes on a range of USA goods, including imports of vehicles, alcohol, coal, rice and cosmetics.

Ankara's first batch of tariffs hit $1.8 billion in USA products.

US President Donald Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to the US.

"We have more that we are planning to do if they don't release him quickly", Mr Mnuchin said during the meeting.

When Mr Kilic sought to tie conditions to Mr Brunson's release, Mr Bolton waved them aside and said there would be no negotiations. Brunson is accused of backing a 2016 coup attempt against Erdogan, which Brunson denies. The United States was the fourth-largest source of imports to Turkey a year ago, accounting for $12 billion of imports, according to International Monetary Fund statistics.

The Chinese yuan CNH=EBS gained 1.1 percent to 6.87 per dollar.

The local court in Izmir rejected Brunson's appeal to be released while his trial is pending. Cavusoglu said ties with the bloc, long strained, were on a firmer basis and had started normalising.

"And he seemed to downplay the risks in the corporate and banking sector posed by large foreign currency debts".

"Aluminum will now be 20% and Steel 50%", he said.

"If they have the iPhone, there is Samsung", he said during a speech in Ankara earlier this week.

Like this: