USA says more sanctions await if Turkey does not free pastor

17 August, 2018, 16:40 | Author: Teresa Adams
  • Andrew Brunson US pastor held prisoner in Turkey

A USA dollar banknote is seen on top of 50 and 100 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018.

US stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States later in August and Turkey's lira continued its recovery.

Last week the United States doubled tariffs on aluminium and steel imports from Turkey, during a dispute over Turkey's detention of an American pastor on security charges that the U.S. views as baseless.

The White House host added that "we will pay nothing for the release of an innocent man, but we are cutting back on Turkey!"

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White House press secretary Sarah Huckabee Sanders earlier criticized Turkey's move to impose tariffs on some USA goods as "regrettable and a step in the wrong direction".

The lira has weakened 35 percent against the dollar this year.

"If the traitor in Pennsylvania is extradited to our country, the handover of the pastor may be in the offing, and both countries will get what they want", Devlet Bahceli, leader of a far-right political party allied with Erdogan, said Wednesday in Ankara, according to the Anadolu news agency.

US President Donald Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to the US. The US has already increased its sanctions against Turkey. A senior United States official told CNN that in exchange for Turkey's release of Brunson, Israel agreed to release Ebru Ozkan, a 27-year-old Turkish woman held in Israel on suspicion of aiding Hamas, the Palestinian militant group that controls Gaza.

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Putting all the mathematics and statistics together, it concludes that there are 8.5 times more iPhone users worldwide than there are people in Turkey.

The Turkish currency was trading at 5.85 at 1740 GMT, more than 1 percent stronger on the day.

Mr Albayrak, President Recep Tayyip Erdogan's son-in-law, said the country's banks were healthy and strong and the nation would not be turning to the International Monetary Fund for a bailout. On Aug. 14, he said Turkey would boycott USA electronic products. The tariffs that the United States placed on Turkey were out of national security interest.

Economists gave Albayrak's presentation a qualified welcome and the lira initially found some support, helped by Qatar's pledge to invest $15 billion (£11.8 billion) in Turkey.

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"Turkey isn't in favor of an economic war", Ibrahim Kalin said Wednesday, "but staying silent when attacked is out of question".

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