Qatar promises $15 billion investment in Turkey

Qatar has close ties with Turkey whose President Recep Tayyip Erdogan is seen here being welcomed by Qatari Emir Sheikh Tamim bin Hamad Al Thani in Doha

White House Says Turkey’s Tariffs on U.S. Goods Are ‘Wrong Direction’

Turkish President Tayyip Erdogan and French President Emmanuel Macron spoke by phone on Thursday and stressed the importance of developing economic and trade ties and boosting bilateral investment, a Turkish presidential source said.

A boycott of USA electronics goods was proposed by Erdogan on Tuesday, who is accusing Washington of waging a targeted economic war on his country.

Relations between Turkey and the United States have been soured by Brunson's detention, as well as diverging interests on Syria.

The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges and whose case Turkish officials have said was a matter for the courts.

Earlier Erdogan doubled tariffs on imports of United States passenger cars to 120 percent, alcoholic drinks to 140 percent and leaf tobacco to 60 percent.

Following Trump's move to increase duties on steel and aluminum from Turkey, Turkey's President Recep Tayyip Erdogan said this week his country will boycott USA electronic goods, including the iPhone.

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"Tax rates on imports of some products have been increased on a reciprocal basis against the USA administration's deliberate attacks on our economy", the country's vice president, Fuat Oktay, said in a pair of tweets.

A decree by Erdogan doubled Turkish tariffs on imports of U.S. passenger cars to 120 per cent, alcoholic drinks to 140 per cent and leaf tobacco to 60 per cent. Tariffs were also doubled on goods such as cosmetics, rice and coal.

The White House said on Wednesday that the United States will not lift sanctions on Turkish steel and aluminum products even if detained American pastor Andrew Brunson is released.

The White House called the Turkish counter-tariffs a step in the wrong direction and signaled a hard line.

It touched a record low of 7.24 to the dollar early on Monday, rattling global stock markets and threatening the stability of Turkey's financial sector.

Sanders said the Trump administration "would consider" lifting sanctions imposed on Turkey's Justice and Interior ministers for their roles in the detention of the pastor once he is released.

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The Silver vehicle then drove to the Westminster area, circling the Houses of Parliament and Whitehall until just after 7.30am. Authorities said in a statement Tuesday that a man in his 20s was arrested on suspicion of terror offences.

Turkey's finance minister has ruled out any assistance from the International Monetary Fund or any moves to limit money flows as he reassured investors that Turkey will come out of the current currency crisis "stronger" than before.

In total, companies in Turkey have $217 billion in net foreign-exchange debt, equal to about a quarter of gross domestic product, according to central bank data.

Kilic was among several human rights activists caught up in a massive crackdown that Turkey launched following the attempted coup.

She wouldn't be drawn on whether the Trump administration would respond.

The currency drop is particularly painful for Turkey because it has accumulated a high debt in foreign currencies, and because recent trade tariffs from the USA have further injured the economy.

Washington wants the evangelical Christian freed but Turkish officials say the case is a matter for the courts.

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"It definitely would make sense to own Gold now in Turkey given the depreciation of the lira", the precious metals strategist at Mitsubishi Corp U.K. Plc, said. A Turkish court transferred Brunson to house arrest in late July.

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