Qatar to provide aide to Turkey


The U.S. economy is 25 times larger than Turkey's, based on nominal GDP.

"If they have the iPhone, there is Samsung elsewhere".

Erdogan vowed to substitute foreign imports with domestically produced goods.

According to the Hurriyet Daily, a significant number of importers have begun to withdraw their short and long-term orders after Turkish President Recep Tayyip Erdogan's appeal to boycott USA electronic products on Tuesday.

Turkey had previously said it would boycott USA electronic products.

Though Erdogan may not intend to institute a firm ban on American-made electronics, he did note that there's plenty of alternatives for those who are willing to stop using the devices.

"The secret to successful states is their readiness for war".

Wall Street flat as trade tensions mute earnings optimism
Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 1.47-to-1 ratio favored decliners. The number of Americans filing for unemployment benefits unexpectedly fell last week, a Labor Department report showed.

"There is a price we're paying for the period we're in", he said in a combative speech in Ankara.

Measures to restrict the amount of currency that can be exchanged with foreign banks were also said to be boosting the currency. "Some close the doors and some others open new ones". Erdogan claims that his stance against US imports is necessary due to the recent collapse in Turkish assets.

U.S. Treasury Secretary Steven Mnuchin says the United States is ready to impose more sanctions on Turkey if detained American pastor Andrew Brunson is not released from house arrest.

The Turkish lira continued to rebound from record losses on Thursday a day after Qatar pledged $15 billion in investments to help Turkey's economy.

The lira has lost more than 40% this year and crashed to an all-time low of 7.24 to the dollar early on Monday, hit by worries over Erdogan's calls for lower interest rates and worsening ties with the US.

The Turkish lira has strengthened more than 3% today, ahead of a presentation by Finance Minister Berat Albayrak to investors, shrugging off United States comments ruling out the removal of steel tariffs on Turkey even if it frees a U.S. pastor.

The currency has lost almost 40 percent against the dollar this year, driven by worries over Erdogan's growing influence on the economy and his repeated calls for lower interest rates despite high inflation.