on Twitter he would double duties on Turkish aluminium and steel, to 20 percent and 50 percent respectively.

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 President had tweeted at Turkey's Islamist President Recep Tayyip Erdoğan last month to free Pastor Brunson, writing: "He has been held hostage far too long".

Trump and Erdogan have discussed Brunson's imprisonment "on several occasions", White House spokesman Sarah Sanders said at the time, adding that Trump is "not happy with Turkey's decision not to release" the pastor. The key focus was on risks associated to the Lira's massive losses last week and Trump turning the screw in tighter when double the tariffs on metal imports from Turkey leading to the United States dollars strengthing across the board, treasury yields fell, stocks were sold, and commodities were mixed.

"Shame on you, shame on you", he said, directing his remarks at Washington.


On Friday, Erdogan asked Turkish citizens to sell off their gold and dollars and exchange them for the lira, in an attempt to prop up the currency. The entire Turkish public is against USA policies that disregard Turkey's legitimate security demands.

In an opinion piece published in The New York Times on Friday, Erdogan criticised the tensions with the USA, saying a "failure to reverse this trend of unilateralism and disrespect will require us to start looking for new friends and allies".

"This will be the response to those who have declared an economic war".

Trump's announcement saw the Turkish lira drop even further, crashing to a 19 percent daily loss against the greenback.

"Also completely underestimated is Turkey's capacity to effectively shut down everything that happens in Brussels if they want to, because Brussels works on consensus and nothing, literally nothing happens without consensus", he said.

The tensions with Washington have, for investors, underscored Turkey's authoritarian trajectory under Erdogan.


North Atlantic Treaty Organisation uses the Incirlik Air Base in Turkey to fight against IS and there has been some domestic pressure on Mr Erdogan to close it.

Erdogan called on Turks to not be concerned about exchange rate movements, mockingly declaring "the dollar, the mollar will not cut our path".

"If they have their dollars, we have our people, our God". It is host to a critical part of the Western alliance's missile defense system again Iran.

Speaking to supporters in the Black Sea province of Rize late on Thursday, Erdogan brushed off concerns over the currency as campaigns against Turkey.

"The dollar also has an edge on the euro amid continuing repatriation of funds to the United States, and the pound looks to keep retreating indefinitely with "no-deal Brexit" the main driver", said Mitsuo Imaizumi, chief FX strategist at Daiwa Securities.

American evangelicals have pressed Mr Trump for action on Pastor Brunson, who was held in prison for nearly two years but was recently moved to house arrest.


Erdogan and Putin also voiced contentment regarding Turkey and Russia's ongoing cooperation in the energy and defence industry sectors, the source told CNBC.

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