Monday, 20 August, 2018

Erdogan warns Turkey's partnership with United States 'in jeopardy'

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters  File An investor looks at an electronic board showing stock information at a brokerage house in Shanghai China. Aly Song Reuters File
Ellis Copeland | 12 August, 2018, 18:43

Turkish President Tayyip Erdogan on Saturday said it was wrong of the United States to try to bring Turkey into line with threats, a day after President Donald Trump doubled tariffs on Turkish metal imports as the row between the two North Atlantic Treaty Organisation allies deepened.

The Lira has lost almost a third of its value this year, as relations with the United States have become increasingly strained.

Stocks in the US and Europe skidded Friday as investors anxious about the financial stability of Turkey and how it might affect the global banking system.

Turkey's woes also shook world markets, pushing down stock indexes.

The Turkish currency lira tumbled by 7% on August 10 - a historic record against the dollar as strains with the United States intensified.

President Donald Trump said in a tweet Friday that he would hit Turkey with additional tariffs, as their national currency continues to drop.

US manufacturers that import steel from Turkey have been benefiting from the rising value of the dollar against the Turkish lira, which climbed to a fresh all-time high Friday.

In the New York Times, Erdogan warned Washington not to risk its relations with Ankara, saying it would look for "new friends and allies". While many of Turkey's challenges are specific to that country, there are certain characteristics - a heavy debt load following a prolonged, low U.S. interest-rate driven borrowing binge in dollars - broadly shared throughout emerging markets.

"Aluminium will now be 20 percent and Steel 50 percent".

But the trade minister, Ruhsar Pekcan, said: "We implore President Trump to return to the negotiating table". "This is Turkey", he said.

Turkish Currency Collapses After Trump Doubles Metals Tariffs
Although he downplayed the Dollar's strength, he once again summoned God to be on the Turkish side against the US. On Friday, Turkey's currency, the Lira , fell as much as 14%, causing the global financial markets to shudder.


This exciting Liverpool squad is just what the Premier League needs
More aggressive in the right moments. "We can improve everything: we can improve our offensive game, we can improve our defensive game".


Premier League chairman speaks exclusively to The Voice
Real Madrid was already pursuing the Belgium goalkeeper before striking the 35 million euro fee with Chelsea . This brings me to the remaining four hopefuls - Spurs, Manchester United , Arsenal and Chelsea .


The fallout from Donald Trump's trade war with Turkey - which has sent the country's currency plummeting - may lead to financial turmoil across Europe, experts fear. According to figures from the Turkish Government, for the period of 2002 to October 2017, Turkish direct investments in the United States reached $3.7 billion while USA investments in Turkey amounted to $11.1 billion, second only to the Netherlands' 21.6 billion.

"Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks".

In relation to this latter dispute, Turkey's continued detention of American pastor Andrew Brunson, who was jailed 21 months ago in a widespread crackdown over a failed coup in Turkey, has increase hostility between the nations.

Ankara blames for an attempted coup in 2016.

Turkish Presidential Spokesman Ibrahim Kalin earlier wrote in the Daily Sabah newspaper that the U.S. runs the risk of losing Turkey as its ally.

A Turkish court has agreed to move Brunson from prison to house arrest over health concerns, but it still does not allow him to return to the United States.

"It will hurt US manufacturers that import steel and aluminum from Turkey, although that only constitutes a small portion of domestic steel and aluminum consumption", she added.

Observers have noted how fighting for Mr Brunson's cause is likely to be popular with Mr Trump's evangelical base ahead of crucial mid-term elections this November.

Erdogan enjoys the support of many Turks even though rents and food and fuel prices have all surged.

Recommended

Listen to Kanye West's previously unreleased track, "XTCY" Listen to Kanye West's previously unreleased track, West has maintained his vocal support for Trump since the 2016 presidential election. He added, "I was so happy when I saw Jimmy walk out in the Yeezys".

French judge charges 2 German officials in campsite flood French judge charges 2 German officials in campsite flood About 17,000 homes in southwest and northeast France were without power and several roads were closed as a result of the floods. UK Met Office weather expert Marco Petagna said almost three inches of rain fell in the area in just 24 hours.

Arsenal Vs Manchester City: 3 Key Battles To Watch Out For Arsenal Vs Manchester City: 3 Key Battles To Watch Out For The new Gunners boss begins life in the Premier League with a clash against the Citizens at the Emirates on Sunday afternoon. That coupled with their exceptional midfield and options in forward areas mean they'll be favourites again this season.

Tesla Shares Rise on Report Board Will Explore Musk's Proposal Tesla Shares Rise on Report Board Will Explore Musk's Proposal Booking Holdings slumped five per cent on disappointment over the company's third-quarter forecast. The stock market has been kind to Elon Musk , who has used and abused Wall Street in return.

Space Force: 5 things to know about Trump’s controversial plan Space Force: 5 things to know about Trump’s controversial plan Trump announced his plan for the Space Force in June. "There is a threat out there but it's being handled by the U.S. It would become the USA military's sixth branch, following the Army, Air Force, Navy, Coast Guard and Marine Corps.

Bairstow departs but England lead past 200 Bairstow departs but England lead past 200 Chris Woakes celebrates his first Test century, the all-rounder ended the day on 120 not out . England bowled India all out for 107 in its first innings on a rain-interrupted second day.

Maurizio Sarri already has some 'regrets' over Chelsea's transfer window As it was, David Wagner's team were unable to do enough to cause serious problems for Kepa on the young Basque 'keeper's debut. Before the second goal, the Terriers had hit a post through Steve Mounie's header, but it was to be Sarri's and Chelsea's day.

History made at Lord's as rain prevents play on day one History made at Lord's as rain prevents play on day one Play resumed with England , 1-0 up in a five-match series after their 31-run win at Edgbston last week, yet to bat. But the very next delivery saw Kohli edge a Woakes outswinger and Buttler made no mistake on this occasion.

Koepka leads by two strokes after third round at PGA Championship Koepka leads by two strokes after third round at PGA Championship Koepka ran off three straight birdies after he made the turn and came to the par-5 ninth at seven-under for the round. Watching Finau make all those birdies, Furyk "didn't say anything, but he was just shaking his head", Finau said.

China pledges to match tariffs on $16bn of American goods China pledges to match tariffs on $16bn of American goods With a crush rate of 1.67 million mt and stocks of 8.8 million mt, China has more than five weeks' worth of soybean consumption. A Commerce Ministry statement labeled Trump's decision to go ahead with the latest USA tariffs "very unreasonable".

Further cryptocurrency price falls, as SEC decision delay sparks heavy losses Further cryptocurrency price falls, as SEC decision delay sparks heavy losses Bitcoin which is the most popular digital currency is now trading at around 6,500 dollars which is a massive drop. According to Gallancy, the launch of this Trust is now set for early 2019 assuming they get a positive decision.

Davis Love III to mark 100th major at PGA Davis Love III to mark 100th major at PGA Bellerive Country Club, a 7,317-yard par-70 course, is hosting its third major and second PGA Championship. Perhaps all those bits of adversity and disappointment will have been worth the wait by Sunday.

Mourinho's tactics get Man United off to the flawless start Mourinho's tactics get Man United off to the flawless  start The talented young Belgian spent last season on loan at Valencia and got the surprise start in this one. He added: "It was not a hard decision [to start Pogba], the decision was down to him".

Blizzard has multiple Diablo projects in the pipeline Blizzard has multiple Diablo projects in the pipeline So whether you're a veteran to the franchise or a newcomer, there's going to be an announcement that everyone can enjoy. Straight from the source, we've got our official first bit of hype regarding brand new Diablo goodness.

Trump Tweets About Charlottesville One Year Later Trump Tweets About Charlottesville One Year Later Grace Aheron, an organizer for Showing Up for Racial Justice, said a "militarized police presence" doesn't make the city safer. Last year's rally did not come with conversations and many peaceful demonstrations, however.