Turkish President Recep Tayyip Erdoğan on Monday said the US has shot Turkey in the foot with its recent sanction decisions, underlining that Ankara would not give in to the pressure and is “ready to fight,” the Cumhuriyet daily reported.
“You [US President Donald Trump] cannot say ‘I did it’ and that’s it. You may be a president. You cannot wake up in the morning and say I put such and such an amount of tax on steel and aluminum. You are a strategic partner on the one hand, and you shot us in the foot on the other,” Erdoğan said, speaking to Turkish ambassadors in Ankara.
“Can such a thing be accepted? We can’t possibly accept it,” Erdoğan added, challenging US sanctions.
After imposing economic sanctions on two Turkish ministers on Aug. 1 for their role in the detention of American pastor Andrew Brunson, President Trump on Aug. 10 ramped up sanctions on Turkey by doubling US tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.
As tension between Ankara and Washington continues, the Turkish lira, which on Friday tumbled by as much as 18 percent at one point, its biggest daily drop since 2001, plunged to a new record low in Monday’s early Asia Pacific trade, with the total loss in value exceeding 45 percent this year.
Claiming that the fall of the Turkish lira has no basis in economic fact, Erdoğan said that “Our economy has been under siege. This started with the Gezi [park protests in 2013] resistance. We prevented it with our nation by standing back to back.”
“We all agree that the developments concerning the currency are the product of a common mind,” added Erdoğan. “You have to fight to reach peace. We are ready for war,” said Turkish president and also criticized social media messages about the currency crisis. “There is terrorism of the economy on social media. The judiciary does what is needed. This is treason. We will destroy their lair,” said Erdoğan.
Turkey’s Interior Ministry on Monday said it was taking necessary legal measures for 346 social media posts regarding the dollar exchange rate that create a negative perception of the economy.
The İstanbul Chief Prosecutor’s Office also stated that it had launched investigations into people who “threaten economic security” by sharing “manipulative” information about the plunge of the Turkish lira and related stories that constitute “economic attacks” against Turkey on social media.
The US can’t achieve results with sanctions, Turkish FM says
Meanwhile, Turkish Foreign Minister Mevlüt Çavuşoğlu said on Monday that the US has to learn that it can’t achieve results with sanctions, threats and pressure on Turkey by reiterating that Ankara is ready to find a solution to the ongoing row through dialogue and diplomacy.
“It’s impossible for us to accept these sanctions and threats. Our expectation from the US is to remain loyal to our traditional friendship and our NATO alliance,” Çavuşoğlu said in an address to Turkish ambassadors during an annual conference in Ankara on Monday.
“Turkey is one of the most investible countries despite all campaigns against it,” Çavuşoğlu claimed in response to the country’s currency crisis. “The US is in confusion. ‘Should we resolve this problem with Turkey, or should we maintain it until the November elections?’” Çavuşoğlu said, referring to mid-term congressional elections.
The minister stressed that the US should learn that they will not achieve any results with sanctions while calling for more dialogue and diplomacy. “Turkey has done enough to repair ties,” he said, underlining that the culture of compromise requires both sides’ steps for resolving questions.
Çavuşoğlu also recalled that the US has not taken any concrete step on Turkey’s extradition request for Fethullah Gülen, who is accused of orchestrating a July 2016 coup attempt by the Turkish government, although Gülen strongly denies any involvement, and has acted contrary to the alliance regarding the fundamental security issues of Turkey.
Merkel says Germany would like to see a prosperous Turkey
Also on Monday, German Chancellor Angela Merkel said that his country wants to see economic prosperity in Turkey and that Ankara should ensure the independence of its central bank, Reuters reported.
“No one has an interest in an economic destabilization in Turkey. But everything must be done to ensure an independent central bank,” Merkel said during a news conference in Berlin when asked about the economic situation in Turkey.
“Germany would like to see an economically prosperous Turkey. This is in our interest,” Merkel added.
The Turkish currency has lost more than 40 percent of its value against the dollar this year, largely over worries about President Erdoğan’s influence over the economy, his repeated calls for lower interest rates and worsening ties with the United States.
On Friday that relentless slide turned into a crash: The lira dropped as much as 18 percent, hitting the US and European stocks as investors took fright over banks’ exposure to Turkey.
The fresh lira collapse on Sunday night hit Asian shares, weakened South Africa’s rand and drove demand in global markets for safe currencies including the dollar, Swiss franc, and yen. Shares in Europe’s major banks also lost ground.
The post Turkish President Erdoğan says US’ Trump shot Turkey in the foot appeared first on Stockholm Center for Freedom.
from Stockholm Center for Freedom https://stockholmcf.org/turkish-president-erdogan-says-us-trump-shot-turkey-in-the-foot/
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