Erdogan says Turkey to boycott US electronic goods

Lloyd Doyle
August 15, 2018

Erdogan has been repeatedly photographed with Apple products including the iPhone and iPad.

An evangelical from North Carolina, he has been held in Turkey for almost two years over alleged links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for a failed coup in 2016.

This follows tariffs emplaced on Turkish metal exports last week by President Donald Trump which has caused a freefall of the Turkish Lira. "Necessary instructions on the issue have been issued to our agencies", Yahya Ustun, spokesman for the country's flag-carrier, wrote on Twitter.

Erdogan said Turkey was facing an "economic attack" and a "bigger, deeper operation".

"In the end, it doesn't make economic sense for him, it doesn't make political sense for him, to deny his people the best products that they're used to", Rao said. "And we have our own telephone brands", he added.

The growing interconnectedness of the world economy means that the recent sharp decline in the value of the lira poses risks for other fragile emerging market economies, which in turn pose risks for the developed world.

The lira is down roughly 40 per cent his year, dropping 10 per cent of its value on yesterday alone.

Erol, the manager of an electronics goods store who declined to give his surname, said he was anxious the value of the lira and the boycott could damage his business.

The CBRT on Monday moved "to support financial stability and sustain the effective functioning of markets", introducing measures on the Turkish lira and the foreign exchange market (FX) liquidity management.

His comments have so far failed to quell a crisis that economists say is largely self-inflicted, owing to an overheated economy and the debt exposure of Turkey's companies and banks.

Traders said news that Finance Minister Berat Albayrak will hold a conference call with up to 1,000 investors to discuss the economy might also have helped support the currency. On Tuesday, one dollar was worth 7.2 lira.

"We will protect our Turkish lira, we will march with Turkish lira and we will see a stronger lira in the coming period".

The American pastor at the centre of the spiralling diplomatic row between the U.S. and Turkey has launched a new bid for freedom 22 months after he was detained on terror-related charges.

The pastor's Turkish lawyer launched a fresh appeal on Tuesday for his release.

The row over Brunson has compounded Turkish concerns over issues such as USA support for PKK-linked Kurdish fighters in Syria as well as Washington's alarm at Turkish plans to buy a Russian air defence system, which led this week to the United States suspending military sales to Turkey.

"Every part of [Vestel phones] are American", Rao said.

Even though a meeting between National Security Adviser John Bolton and Turkey's USA ambassador on Monday yielded no public progress, the White House is now leading the talks with Turkey over Brunson's release and a host of other issues that have dragged down the alliance.

"The president has a great deal of frustration on the fact that Pastor Brunson has not been released as well as the fact that other United States citizens and employees of diplomatic facilities have not been released", White House Press Secretary Sarah Sanders said at a briefing.

Other reports by Iphone Fresh

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