Published: Mon, August 20, 2018
Money | By Ralph Mccoy

Erdogan: US attack on economy same as attack on our flag

Erdogan: US attack on economy same as attack on our flag

President Donald Trump's administration has rejected Turkey's offer to condition the release of an American pastor on clearing a top Turkish bank of billions of dollars in USA fines, media reported Monday.

To protest against United States president Donald Trump, who has increased the steel tariffs from Turkey, Turkish people are taking to social media to publicly destroy products made by popular American companies.

Turkey's currency crisis poses an additional risk to Germany's economy on top of trade frictions with the United States and the possibility of Britain leaving the European Union without a deal, the German Finance Ministry said on Monday (Aug 19).

"Some are threatening us with economy, sanctions, exchange rates, interests and inflation".

"A real North Atlantic Treaty Organisation ally wouldn't have arrested Brunson in the first place", the source told the Journal. No injuries were reported.

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The lira has nosedived against the dollar, dropping as much as 20 percent on one day last week.

A court has rejected another appeal to free Brunson and Turkey has threatened to respond in kind if Washington imposed further sanctions.

Prior to Trump's tariff announcement, the Turkish lira fell to its lowest point ever against the USA dollar, dropping by over 11 percent in value to almost six lira per dollar.

The Trump administration has turned Brunson's detention into a rallying call among Christian conservatives, particularly Evangelicals, and the president has feuded with Turkish President Recep Tayyip Erdogan openly over the American pastor.

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