Erdoğan: We challenge your dollar operations

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters  File

"We will not lose the economic war", state-run TRT Haber TV quoted Erdogan as saying, according to Agence France-Presse. "This is Turkey", he said.

Trump's tweet Friday showed that in many cases, the political and economic factors overlap - Trump's decision to double sanctions on Turkey was made possible by a key trade law called Section 232 that gives the us president very broad powers over tariffs in cases of national security.

On Friday, Erdogan spoke by telephone with Russian President Vladimir Putin.

Ankara has ruled out releasing Brunson, although he was granted house arrest in July.

But President Recep Tayyip Erdogan, who had remained unusually silent until the lira crisis deepened, urged his fellow countrymen to take matters into their own hands.

In a statement, the White House said the president had authorized the preparation of documents to raise tariffs, citing national security concerns. Mr. Trump said on Twitter.

An important emerging market, Turkey borders Iran, Iraq and Syria and has been mostly pro-Western for decades. But Erdogan indicated he was in no mood to offer concessions to the United States, or financial markets.

"I am asking you". In the article, he said that Washington used 5,000 trucks and 2,000 cargo planes to deliver weapons to the Syrian branch of an "armed group that is responsible for the deaths of thousands of Turkish citizens since 1984 and that is designated a terrorist group by the U.S". Lindsay Graham of SC, said Trump's decision was retaliation against Turkey for not releasing Brunson.

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"I am once again calling on those in America: it is a pity that you choose a pastor over your strategic partner in North Atlantic Treaty Organisation", he said.

Both US moves caused drops in the Turkish lira, which fell to a record low on Friday, heightening investor fears over the state of its struggling economy.

He also repeated his call to Turks to sell their dollar and euro savings to shore up the lira.

That indicates that people are buying dollars and euros, not selling them off - and that they're not finding buyers in lira, anyway. In doing this, he said, "we fight this war of independence.This is the language they understand". He wrote and Washington's unilateral actions against Turkey undermine American interests and force Ankara to search for new allies.

Last Friday, Turkish Foreign Minister Mevlut Cavusoglu and his USA counterpart Mike Pompeo met in Singapore on the sidelines of the Association of Southeast Asian Nations foreign ministers' meeting. It is host to a critical part of the Western alliance's missile defence system again Iran.

The president has declared that American importers' reliance on foreign metals poses a national security risk to the U.S., and he also has increased the cost of these imports on Japan, Turkey and members of the European Union, the paper reported.

Iranian Foreign Minister Mohammad Javad Zarif listens during a meeting between the Iranian president and the North Korean foreign minister in the capital Tehran on August 8, 2018.

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