Erdogan Tells Turks to Buy Crumbling Lira as Trump Turns the Screws


Erdogan Tells Turks to Buy Crumbling Lira as Trump Turns the Screws

"I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!"

"If you have dollars, euros or gold under your pillow, go to banks to exchange them for the Turkish lira".

Erdogan is also upset at the protection U.S. coalition forces are providing the Kurds in Syria, against the invading Turkish army.

It hit a record low after Trump announced he had authorised higher tariffs on imports from Turkey, imposing duties of 20% on aluminium and 50% on steel.

"The United States should know that the only result such sanctinos and pressure will bring... will be harming our relationship as allies", the Turkish foreign ministry said in a statement.

"We will say goodbye to those, who sacrifice its strategic partnership and alliance with a country of 81 million people on the altar of its relations with terror organizations", he said.

Iran has also suffered a major tumbling of its currency this year partly over the reimposition of U.S. sanctions after Trump abandoned the 2015 nuclear deal.

While Turkey and the United States are at odds over a host of issues, the most pressing disagreement for Trump has been the fate of American Christian pastor Andrew Brunson, who is on trial on terrorism charges for allegedly supporting a group that Ankara blames for a failed coup in 2016.

Erdogan framed Turkey's currency crisis as a "national battle" against economic enemies, namely the United States, saying 'if they have their dollar, we have the people, we have Allah'.

In an op-ed published in New York Times, Erdogan warned Washington not to risk its relations with Ankara, saying otherwise it would look for "new friends and allies".

Although the pastor's arrest has soured already-fragile ties with Washington, Erdogan said there would be no let up in Brunson's case, vowing: "We have not made concessions on justice so far, and we will never make any".

Turkey wants the USA to extradite cleric Fethullah Gulen, a Pennsylvania-based cleric who Turkish authorities say masterminded the coup attempt in which 250 people were killed. In response to Turkey's tightening embrace of Russia, Congress slapped a hold on delivery of F-35s to the Turkish air force, for fear that the Russians would be invited to examine the world's most advanced stealth warplane. Gulen has denied the allegation.

"We are once again facing a political, underhand plot".

Without naming countries, Mr Erdogan said supporters of a failed military coup two years ago, which Ankara said was organised by a US-based Muslim cleric, were attacking Turkey in new ways since his re-election two months ago.