Hes innocent: US threatens more sanctions on Turkey if pastor not freed

Hes innocent: US threatens more sanctions on Turkey if pastor not freed

-China trade issues following news that a Chinese delegation led by Wang Shouwen, the vice commerce minister, will visit the United States later this month for trade discussions between the world's two biggest economies, market sources said.

The US has also been irritated by Turkey's decision to buy a Russian missile defence system earlier this year, while Ankara has hit out at Washington's backing of Kurdish rebels in Syria.

"Through this simple campaign, we are showing our solidarity with the Turkish people against these artificial USA sanctions", he said.

Investors said Albayrak's conference call was going to be a key test of whether Turkey can convince the market that its monetary policy is not hostage to political influence.

Robust U.S. economic data this year, even as Europe and other major economies have lost some steam, has helped keep the U.S. Federal Reserve on track to raise interest rates twice more this year, which should boost the appeal of the dollar further.

More news: Jury retires to consider verdict in Ben Stokes' assault trial

He added, "We will pay nothing for the release of an innocent man, but we are cutting back on Turkey!"

"The worst of the broader contagion fears is likely behind us, and we do not expect further knock-on effects from Turkish concerns for the major currencies or for global financial markets more broadly", said Erik Nelson, currency strategist at Wells Fargo Securities in NY.

Tuesday night, Turkey announced new tariffs against the United States, the latest in the mounting tit-for-tat between the long-time allies.

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.

A decree by Erdogan doubled Turkish tariffs on imports of US passenger cars to 120 percent, alcoholic drinks to 140 percent and leaf tobacco to 60 percent.

More news: Lawsuits accuse Tesla's Musk of fraud over tweets, going-private proposal

Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to America. No interest rate increase from the central bank, and a firm no to capital controls, either. On Tuesday, he said Turkey would boycott USA electronic products.

In response, Erdogan has called for a boycott of United States electrical goods while Ankara has sharply hiked tariffs on some USA goods.

Speaking in Washington, White House spokeswoman Sarah Sanders made clear the United States had no plan to remove the steel tariffs if Brunson were released though she said it could remove sanctions imposed on two senior Turkish officials.

Turkish officials say Brunson's case is a matter for the courts.

Investors have also shown a preference for the greenback based on the expectation that the it will gain at the expense of emerging market currencies which are dependent on commodity exports.

More news: Trump To Soldiers: It's A New Day For The US Military

The Turkish currency began to recover after authorities this week took steps to help bank liquidity. Mr Erdogan has also held a phone call with German chancellor Angela Merkel and planned to speak this week also with France's Emmanuel Macron.

Related Articles

  • Liverpool’s third goal v West Ham was clearly offside, says Manuel Pellegrini

    Liverpool’s third goal v West Ham was clearly offside, says Manuel Pellegrini

    After Salah's first goal the result never really looked in doubt, with the Hammers never seriously threatening Liverpool's goal. This is what I believe we have the ability to now overcome, and that is down to the addition of one man.
    You can now purchase a Samsung Galaxy Tab S3 for RM530 off

    You can now purchase a Samsung Galaxy Tab S3 for RM530 off

    We already know the the new iPhone will ship with iOS 12 and Samsung could have made the same promise with the Note 9. In our review we said the Samsung Galaxy Note 8 was "everything Samsung fans could wish for and so much more".
    Turkey doubles tariffs on more U.S.  imports as diplomatic row escalates

    Turkey doubles tariffs on more U.S. imports as diplomatic row escalates

    The state-run Anadolu Agency said the finance chief would address hundreds of foreign investors on Thursday in a teleconference. Erdogan warned that the U.S.is putting decades-old alliances at risk and pushing Turkey to seek allies elsewhere.
  • U.S., China to Resume Trade Talks as Tariffs Bite

    U.S., China to Resume Trade Talks as Tariffs Bite

    The offshore Chinese yuan rose briefly on the news against the dollar, strengthening to a high of 6.9165 before paring gains. The SCI 300 Index was up 0.59 per cent by mid-morning, having fallen as much as 1.8 per cent shortly after open.
    L'Equipe: Zidane wants to take over at Manchester United

    L'Equipe: Zidane wants to take over at Manchester United

    The opportunity to come in and manage a club such as Manchester United back to former glories is one which appeals to Zidane. Zinedine Zidane 'is interested in managing Manchester United' and 'wants to succeed Jose Mourinho as early as next season'.
    Barca president refuses to rule out Pogba move

    Barca president refuses to rule out Pogba move

    Mourinho even warned, as the window drew to a close, the club was is in for a hard season if no more deals came over the line. Wes Brown was speaking at the McDonald's & Cornwall FA Community Football Day in Redruth.
  • US man charged with killing pregnant wife, 2 toddlers

    US man charged with killing pregnant wife, 2 toddlers

    Shanann Watts posted selfies of her and her husband smiling in restaurants, in front of the ocean on vacation and at their house. He looked down for most of the hearing but made eye contact as the judge reviewed his rights. "But it didn't happen", he said.
    Cousins shines as Vikings beat Broncos 42-28

    Cousins shines as Vikings beat Broncos 42-28

    He had a great spring, he's had a great camp, so it's his turn to be the [No.] 2 [quarterback]. With Case Keenum 's signing this spring, Lynch was relegated to vying for backup status.
    Fighting Still Raging in Afghan City of Ghazni

    Fighting Still Raging in Afghan City of Ghazni

    Sharif Yaftali, army chief of staff, says all strategic and government offices in Ghazni are still under government control. Earlier, residents described heavy gunfire ringing out and a government building set on fire.
  • Firefighter dies in Mendocino Complex Fire

    Firefighter dies in Mendocino Complex Fire

    The River Fire was reported to be fully contained as of Monday evening while the Ranch Fire was 59 percent contained. The Mendocino Complex - actually twin fires being fought together - has burned for more than two weeks.
    Opec confident China-US dispute won't hit demand

    Opec confident China-US dispute won't hit demand

    Oil prices edged lower, with Brent crude was at 72.72 dollars a barrel and US crude was at 67.33 dollars. Those figures were mainly due to adjustments to production in China during the first half of the year.
    Last solar eclipse of 2018 to occur today

    Last solar eclipse of 2018 to occur today

    Viewers of solar eclipses are advised to never look directly at the Sun, and either wear specialised glasses or viewing boxes. A solar eclipse occurs when the moon appears to cross in front of the sun. "The two lunar eclipses were visible from India".