White House says Turkey treated pastor 'badly'

Turkish lira crisis

The Turkish lira continues to nosedive despite the efforts of president Recep Tayyip Erdoğan

"Turkey isn't in favor of an economic war", Ibrahim Kalin said Wednesday, "but staying silent when attacked is out of question".

Mr Albayrak said Turkey's banks are "healthy and strong" and that implementing structural reforms and maintain tight monetary policy to fight inflation remain a priority. In the months preceding the blockade Turkish companies were handling projects worth about $11.6bn in Qatar, most of which is put into FIFA World Cup 2022 projects, according to Qatar Chamber.

"The sanctions, however, that have been placed on Turkey are specific to Pastor Brunson and others that we feel are being held unfairly", said Sanders.

Turkish Airlines and Turk Telekom have said they will halt advertising in USA media.

Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June, and as the Turkish lira extended gains after hitting a record low earlier this week.

However, the currency market's reaction to his conference call - in which he also said Turkey had no plans to seek help from the International Monetary Fund or impose capital controls to stop money flowing overseas - was measured.

Washington's move came during an ongoing dispute over Turkey's holding of an American pastor for two years.

White House press secretary Sarah Huckabee Sanders earlier criticised Turkey's move to impose tariffs on some U.S. goods as "regrettable and a step in the wrong direction".

The lira, which has weakened 34% against the dollar this year, firmed to 5.7500 against the dollar by 0722 GMT from a close of 5.95.

"The tariffs that the United States placed on Turkey were out of national security interests, theirs are out of retaliation", she noted, refusing to reveal U.S. further actions to respond to Ankara's statement.

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

On August 1 relations between Ankara and Washington nosedived when the USA imposed sanctions on two Turkish Cabinet ministers after Turkey refused to release pastor Andrew Brunson who faces terrorism-related charges in Turkey.

Last Friday, President Donald Trump doubled tariffs on aluminum and steel imports from Turkey.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4%, a day after it hit its lowest level in a year.

United Kingdom -based online travel agent Travel Republic says bookings to Turkey increased by 21 percent in the last three days.

Washington wants the evangelical Christian freed but Turkish officials say the case is a matter for the courts.

His telephone call with Macron comes a day after he spoke on the phone with German Chancellor Angela Merkel.

The emir "will discuss with the Turkish president bilateral relations and means of strengthening the existing strategic cooperation between the two countries in various fields", said a Qatar News Agency statement.

The Turkish currency began to recover after authorities this week took steps to help bank liquidity and limit swap transactions.

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