Turkey’s President Recep Tayyip Erdogan said Turkey would boycott U.S.-made electronics such as Apple Inc.’s iPhone in response to U.S. sanctions, striking a defiant tone in a standoff that has pushed his country toward a financial crisis.
The Middle East’s largest economy has been targeted by the U.S. just like other nations around the world, including Canada, Erdogan said.
“There is a cost we’re going to pay for the period we’re in,” he said. “But without a doubt, there is a cost for those who’re plotting the operation” against Turkey, he said in televised remarks from Ankara.
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“If they’ve got iPhone, there is Samsung on the other side. In our country there is Venus Vestel,” he said referring to a Turkish-made smartphone.
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Turkish actions against U.S. economic interests will be largely symbolic. But Erdogan’s threat underlines that the standoff over the fate of an American pastor held in Turkey is unlikely to end soon. The Turkish leader had already said the U.S. risks pushing a key NATO member to seek allies elsewhere.
The lira held on to its earlier gains while Erdogan spoke and was trading 5.2 percent higher at 6.5457 per dollar at 12:59 p.m. in Istanbul.
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