Binali Yıldırım
The exchange rate cannot be explained economically and Turkey will emerge from this economic siege victorious, Parliament Speaker Binali Yıldırım said on Tuesday while speaking to Turkish ambassadors during an address at the Çankaya Palace in capital Ankara.
“Our people have seen the game. It is not a problem that we cannot overcome. We will emerge from this crisis successfully,” Yıldırım said.
“The fluctuations of the exchange rate cannot be explained with Turkey’s economic indicators. The basis of these developments are political, not economic. Turkey is closed to economic impositions brought upon by political accounts,” he added.
Ankara and Washington must increase dialogue and return to the negotiating table to solve their budding crisis, the U.S.-based American-Turkish Council (ATC) said Monday.The independent business group said it "is deeply troubled by the U.S. Administration’s increased steel and aluminum tariffs levied against Turkey,” in a statementIt follows moves by President Donald Trump on Friday who said on Twitter he authorized those tariffs to be doubled, noting that "aluminum will now be 20% and steel 50%." He said they would take effect Aug. 13."The tariffs do not make business sense and will hurt the American companies and workers who rely on Turkish metals to meet their customers’ needs," ATC said.Turkey, US conduct 29th round of patrols in ManbijThe organization asserted the business relationship between Ankara and Washington has historically been based on mutual respect and cooperation."The ATC implores the Trump Administration to reconsider this escalation of a trade war that is without winners and to resolve this dispute at the negotiating table," it said.The American-Turkish community must work to encourage both sides to find positive terms and common ground to anchor the relationship between the two NATO allies, according to ATC.Campaign launched in Senegal to support Turkish brands"We must inspire increased dialogue, seek greater collaboration, and support the efforts to strengthen our trade and investment ties in the near, medium, and long term," it said.Trump's tariffs decision is another salvo in the growing dispute between the two NATO allies.Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.Lebanese businesspeople come to support of Turkish lira
US-based group urges dialogue between US, Turkey
Relations between Ankara and Washington have been rocky since the Trump administration imposed sanctions on Turkey’s interior and justice ministers last week after Ankara refused to release American Pastor Andrew Brunson, who faces terrorism-related charges in Turkey.
Last Friday, President Donald Trump doubled tariffs on aluminum and steel imports from Turkey.
Turkish President Recep Tayyip Erdoğan in his turn said Turkey would turn toward new markets, new partners and alternative financial tools.
Organizers in Senegal launched a campaign on social media Monday to support Turkey and its economy.They shared a list of 30 Turkish brands, including Turkish Airlines, urging people to support them as much as they can. They also called for a boycott of American brands.“If Turkey is solid and strong, all of the Muslim world is too. Allah is with Turkey. We are with Turkey. We all pray to Allah to end Turkey’s distress,” said Mohammad Yousef, who supports the campaign.“Through this simple campaign, we are showing our solidarity with the Turkish people against these artificial U.S. sanctions,” he said.Turkish president, Qatari emir talk over phoneRelations between Ankara and Washington have been rocky since the Trump administration imposed sanctions on Turkey’s interior and justice ministers last week after Ankara refused to release American Pastor Andrew Brunson, who faces terrorism-related charges in Turkey.Last Friday, President Donald Trump doubled tariffs on aluminum and steel imports from Turkey.The U.S. media said the decision was related to the current state of Turkish-American relations and the Brunson case.
Campaign launched in Senegal to support Turkish brands
“If you pressure us through the dollar, we will look for other ways to carry out our works,” he said.
Terming the recent U.S. tariffs on Turkey as an “economic war,” the Turkish president said: “We’ve seen your game and we challenge it.”
The aim of the recent U.S. pressure is “to ensnare Turkey in every field from finance to politics,” the president noted.
“We will not surrender,” Erdoğan asserted.
Lebanese businesspeople have launched a solidarity campaign for the Turkish lira, which has recently lost ground against the dollar amid a raft of newly-imposed U.S. sanctions.Hani Hariri of Lebanon’s Rawwad Izci Association told Anadolu Agency that his association had decided to launch a campaign in support of Turkey’s national currency, which, he said, was “under attack”.“Through this simple campaign, we are showing our solidarity with the Turkish people against these artificial U.S. sanctions,” he said.Ahmad al-Taish, a Lebanese businessman who recently converted thousands of dollars into Turkish Lira, told Anadolu Agency: “We are obliged to support Turkey, which has become a symbol of development and civilization in the Muslim world.”Merchants in Lebanese capital Beirut, meanwhile, have launched a similar solidarity campaign, offering discounts to customers who make purchases in Turkish lira.Turkey-U.S. are currently experiencing rocky relations since Washington imposed sanctions on Turkey’s interior and justice ministers last week after Ankara refused to release an American pastor who faces terrorism-related charges in Turkey.Last Friday, U.S. President Donald Trump doubled tariffs on aluminum and steel imports from Turkey.Turkey Central Bank to provide all liquidity banks needNo deposits will be seized: Turkish FinMinTurks sprint to support national currency after Erdoğan call
Lebanese businesspeople come to support of Turkish lira