Erdogan says lira crash political plot against Turkey

Turkish President Recep Tayyip Erdogan arrives at the 2018 NATO Summit at NATO headquarters in Brussels Belgium

Tensions soar as US imposes tariffs against Turkey as the lira continues to plummet

The Trump administration followed through on its apparent threat, announcing on Friday it would double tariffs on steel and aluminum from Turkey to leverage Brunson's return.

In a statement the White House clarified that Trump had authorized the preparation of documents to raise steel and aluminum tariffs.

He indicated Turkey's relationship with Washington was imperiled. But Mr Erdogan indicated he was in no mood to offer concessions to the United States, or financial markets.

In an interview with Hurriyet newspaper published online, Albayrak described the lira's weakness as "an attack", echoing President Tayyip Erdogan, who is his father-in-law, and said the action plan was ready. "We will be taking the necessary steps with our banks and banking watchdog in a speedy manner", he said.

On Friday the currency dropped as much as 18% at one point, the biggest one-day fall since a 2001 financial crisis in Turkey. Overall, the national currency lost roughly about 40 percent of its value this year.

Mr Erdogan also hit back at U.S. authorities for convicting Mehmet Hakan Atilla, 47, deputy director general of Turkish lender Halkbank, on charges of helping Iran evade USA sanctions on billions of dollars of oil proceeds. The decision marked a departure for the USA, which has generally tried to calm global markets during times of financial turmoil in emerging markets, especially when investors are gripped by fear of contagion.

Trump pointed out on Twitter that the lira was not doing well, but one of Erdogan's economic advisers, Yigit Bulut, responded that the sell-off in the lira had caused $300 billion in losses in the US stock market.

The Turkish lira TRYTOM=D3 has always been falling on worries about Erdogan's influence over monetary policy and worsening relations with the United States.

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An audio recording from earlier this month apparently featured the mother's "mournful and prominent" calls, Q13 Fox reported. Researchers attribute the decline to a lack of Chinook salmon, as well as increased pollution, vessel traffic and noise.

The United States has turned its back on its North Atlantic Treaty Organisation ally Turkey over a Christian American pastor and such treatment has annoyed and upset Ankara, Turkish President Tayyip Erdogan said on Saturday.

Turkey was not a country to agree to such requests, he told members of his party in the Black Sea city of Trabzon.

Turkey wants the USA to extradite cleric Fethullah Gulen, a Pennsylvania-based cleric who Turkish authorities say masterminded the coup attempt in which 250 people were killed. Gulen denies the allegation. He has denied the charges.

Relations between Ankara and Washington have been strained over the detention of American evangelical pastor Andrew Brunson on terrorism charges.

His cause resonates with Trump's Christian conservative supporters, who could be influential as Republicans seek to retain control of Congress in midterm elections in November.

A delegation led by Turkish Deputy Foreign Minister Sedat Onal failed to secure a deal last Wednesday in talks in Washington on a number of issues including Brunson.

Erdogan today repeated his call for Turks to sell foreign currency to support the lira.

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