Erdogan Vows to Boycott U.S. Electronic Goods Amid Pastor Spat

Apple Inc. iPhone X smartphones are displayed during the sales launch at a store in New York, U.S., on Friday, Nov. 3, 2017. The $1,000 price tag on Apple Inc.’s new iPhone X didn’t deter throngs of enthusiasts around the world who waited — sometimes overnight — in long lines with no guarantee they would walk out of the store with one of the coveted devices. Photographer: Michael Nagle/Bloomberg

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.

More from Turkey’s Collapse Sinks Emerging Markets on ‘Manic Monday’

“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.

Read More: Erdogan’s Apple boycott ignores fact American tech is everywhere

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.

More from

Read Erdogan Vows to Boycott U.S. Electronic Goods Amid Pastor Spat on

Read on The Source


Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About