In a speech to members of his Justice and Development (AK) Party, Erdogan that the nation “will impose a boycott on US electronic products”.
“If they have iPhones, there is Samsung on the other side, and we have our own Vestel here,” he said, referring to the Turkish electronics company.
Erdogan continued: “Together with our people, we will stand decisively against the dollar, forex prices, inflation and interest rates. We will protect our economic independence by being tight-knit together.”
This follows tariffs emplaced on Turkish metal exports last week by President Donald Trump which has caused a freefall of the Turkish Lira. The currency has lost more than 40 per cent of its value over the past year and fell to an all-time low of 7.24 to the dollar on Monday.
Relations between the two nations have continued to worsen in recent days, with Trump’s top national security advisor John Bolton meeting with Turkish ambassador Serdar Kilic Monday. Following the meeting, Bolton gave no indication that the standoff between Turkey and the United States will terminate unless the detained American pastor, Andrew Brunson, is freed. The evangelical pastor is on trial for terrorism charges.
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