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A decree signed by President Recep Tayyip Erdogan doubled tariffs on passenger cars to 120 percent and on leaf tobacco to 60 percent.

The press secretary denied responsibility for Turkey's economic tension, which comes after U.S. President Donald Trump increased U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

China may have emerged as an alternative ally for Turkey while its relations with the U.S. have deteriorated, but it is yet to become an all-out strategic partner for the country, with its security and economic policies still shaped largely by North Atlantic Treaty Organisation and the European Union.

Qatar's financial pledge and Ankara's crackdown on short-selling helped the lira bounce back, rising about 5% to TL6.04 against the dollar.

Turkey's lira has plummeted almost 40 percent this year due to concerns over Erdogan's growing influence on the economy.

Turkey doubled tariffs on some USA imports including alcohol, cars and tobacco on Wednesday in retaliation for US moves, but the lira rallied further after the central bank's liquidity moves had the effect of supporting the currency.

"The president has a great deal of frustration on the fact that Pastor Brunson has not been released as well as the fact that other United States citizens and employees of diplomatic facilities have not been released", said White House Press Secretary Sarah Sanders.

Erdogan exacerbated problems with the currency on Friday when he urged citizens to sell dollars and gold in exchange for lira.




The two sides discussed Erdogan's upcoming visit to Berlin slated for late September, and a meeting between Turkey's Treasury and Finance Minister Berat Albayrak and Germany's Economy Minister Peter Altmaier, due to be held in coming days. "They are killing offshore lira liquidity to stop foreigners shorting the lira", he said. Already existing tariffs on cars were also doubled to discourage business with the United States.

"Turkey does not favor an economic war, but it can not remain unresponsive when it is attacked". Turkey's exports to the United States past year amounted to $8.7 billion, making it Turkey's fifth-largest export market. An upper court had yet to rule on the appeal, his lawyer told Reuters.

Ferit Temur, an Ankara-based policy analyst on Russian Federation and Eurasia, also said Erdogan's speech demanding the United States abandon its hostile policy towards Turkey and threatening to form new alliances with the East was "a routine, weak political act".

An Istanbul court also ordered the release of Amnesty International's Turkey chair Taner Kilic who has spent more than a year in jail over alleged links to a failed coup in 2016.

Turkish President Recep Tayyip Erdogan has repeatedly described the dispute with the U.S. with as an "economic war" that Ankara will win.

Earlier in the week, President Recep Tayyip Erdogan asked Turkish citizens to boycott the use of American technology like iPhones, in response to USA tariffs levied late last week.

Russian officials say that this could soon change, and that they support the idea of conducting bilateral trade in the national currencies of whoever they're trading with, instead of the U.S. dollar. Kremlin officials say this idea needs work before being implemented.


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