White House denounces Turkey tariffs on U.S. products

White House denounces Turkey tariffs on U.S. products

Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend.

Doubts about Turkey's future intensified as relations with the United States, a longtime North Atlantic Treaty Organisation ally, soured.

In a tweet on Thursday, Trump hailed Brunson as a "great patriot hostage" lashing at Turkey for "holding our wonderful Christian pastor".

"We've seen no evidence that Pastor Brunson has done anything wrong and we believe he is a victim of unfair and unjust detention by the government of Turkey", White House Press Secretary Sarah Sanders said at the time.

This has worsened a crisis for Turkey's currency, the lira, which has lost about a third of its value against the dollar since January.

Copper CMCU3 rose 1.54 percent to $5,890.50 a ton, after having confirmed a bear market on Wednesday when it closed 20.9 percent below its recent high reached on June 7.

It has so incensed Washington that the 2019 NDAA - a bill that sets out the USA military's budget for the coming year - blocked the delivery of brand-new F-35 fighter jets to Turkey.

Turkey's finance minister sparked a recovery in the lira yesterday after he addressed thousands of worldwide investors on a conference call.

The lira gained some support from the announcement late on Wednesday of a Qatari pledge to invest $15 billion in Turkey.

"Release Brunson", Mr Bolton told him, according to the official, who declined to be named. Ratings agency S&P Global Ratings is also scheduled to release a review of Turkey's sovereign credit rating after the market closes on Friday.

In an article for the New York Times, published last Friday, the Turkish leader said Turkey "had rushed to America's help whenever necessary" in various times, from the Cold War to the more recent conflicts in Afghanistan, Iraq and Syria. "We are not expecting any fines on Halkbank for sure", he said.

The dispute 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 defence systems, that have contributed to instability in Turkish financial markets.

On Thursday, Finance Minister Berat Albayrak addressed hundreds of foreign investors from the US, Europe and Asia via a conference call in a bid to soothe the markets. In response, Erdogan has called for a boycott of United States electrical goods while Ankara has sharply hiked tariffs on some U.S. goods.

The United States doubled tariffs on Turkish steel and aluminium last week, which contributed to a tumble in the Turkish lira.

In another high-profile case, a Turkish court freed Taner Kilic, the local chair of Amnesty International, a researcher from the rights group said.

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