‘Turkey-U.S. relations may be in jeopardy’

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President Trump said Friday that he told his administration to double steel and aluminum tariffs against Turkey, reflecting the rapidly deteriorating state of relations between the two countries.

"Turkey expects other member countries to abide by worldwide rules", the ministry said in a statement, adding that it would support steel and aluminum exporters in all global platforms.

Erdogan said that there were "various campaigns being carried out" against the country. He did not specify any countries.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan said in the Black Sea town of Unye.

But experts argue that the central bank should instead raise interest rates to ease inflation and to support the currency.

"Unless the United States starts respecting Turkey's sovereignty and proves that it understands the dangers our nation faces, our partnership could be in jeopardy", he wrote.

Among the issues, Turkey has arrested an American pastor and put him on trial for espionage and terror-related charges linked to a failed coup attempt in the country two years ago.

A delegation of Turkish officials held discussions with their counterparts in Washington this week but there was no sign of a breakthrough.

Washington and Ankara are at odds over the detention of United States evangelical pastor Andrew Brunson on terrorism charges in Turkey.

Turkish Trade Minister Ruhsar Pekcan called on the United States to return to the negotiating table.

Washington in response sanctioned two Turkish ministers, and Trump on Friday tweeted it was doubling tariffs on steel and aluminium imports from Turkey, adding that relations with Ankara were "not good at this time".

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There are a range of other issues that have sown discord between the two members of the North Atlantic Treaty Organization (NATO), such as the USA military presence in Syria, Turkey's purchase of Russian S-400 missile systems, and the US move to reimpose sanctions on Iran, the main supplier of oil and gas to Turkey. Financial upheaval there risks further destabilising an already volatile region.

Turkish lira fell to an all-time low against the dollar yesterday, making it worth about 16 cents.

Ash continued: "I don't think you can understate the geopolitical significance". What possible reason could there be behind the lira, which was at 2.8 against dollar on July 15, 2016, to slide below 6 yesterday?

Erdogan replied that Turkey will not back down despite Trump's sanctions policy and said he would answer with mirror retaliation. One U.S. dollar traded at 5.96 lira by 2:15 p.m.

In response, Turkish Foreign Ministry spokesperson Hami Aksoy said on Friday that the US sanctions and pressure would only harm bilateral ties, and that Ankara would retaliate.

He also said Turkey had alternatives, "from Iran, to Russian Federation, to China and some European countries".

"If you have dollars under your pillow, take them out".

He wrote and Washington's unilateral actions against Turkey undermine American interests and force Ankara to search for new allies.

"Hami Aksoy also said on Friday that imposing sanctions on a North Atlantic Treaty Organisation ally wouldn't help Washington achieve its goals and would harm an "alliance that was built by surmounting arduous tests".

"The US and Turkey are breaking up". It is host to an X-band radar, a critical part of the Western alliance's missile defence system again Iran.

Asli Aydintasbas, senior fellow with the European Council on Foreign Relations, stated that Erdogan's speech "was clearly defiant", but Turkey's economic situation continues to appear ever more dire.