German, Turkish ministers to meet before Erdogan-Merkel talks

Andrew Brunson the US pastor accused of being a spy for Kurdish separatists arrives home in Izmir after being released from prison in July on house arrest

Andrew Brunson the US pastor accused of being a spy for Kurdish separatists arrives home in Izmir after being released from prison in July on house arrest

The Turkish government doubled its tariffs on imports of American cars and alcoholic beverages to 120 and 140 percent, respectively, CNN reported.

President Donald Trump doubled tariffs on Turkish metals exports to the United States last week prompting Turkey, which says it will not bow to threats, to raise tariffs on US cars, alcohol and tobacco by the same amount on Wednesday.

Ozgur Unluhisarcikli, director of the German Marshall Fund's Ankara office, noted that Turkey buys just 0.5 per cent of all US exports and most of that is civilian aircraft and weapons.

"Russian Federation is quite a capacious market for Turkish goods", said Yaroslav Lissovolik, Program Director with Russia's Valdai Discussion Club, a Moscow-based think-tank. It had depreciated almost 40 per cent against the dollar this year, driven by concerns over President Recep Tayyip Erdogan's macroeconomic policies and his stance against raising interest rates despite high inflation.

Ankara said it will impose extra tariffs on imports of products including rice, vehicles, alcohol, coal and cosmetics.

Brunson's lawyer, Ismail Cem Halavurt, told CNN on Wednesday that an appeal for Brunson's full release had been rejected.

Turkey announced Wednesday that it is increasing tariffs on imports of certain US products as a court denied an American pastor's appeal to be released from house arrest - both moves likely to escalate a feud with the United States that has helped trigger a currency crisis. Ankara more than doubled the tariff on USA rice to 50%, increased the United States coal tariff to 14% from 10% and more than tripled the tariff on cars to 120%. The finance ministers of both countries were also present. "They are killing offshore lira liquidity to stop foreigners shorting the lira".

Turkey took the action in response to what it called the Trump's administration's attack on its economy.

Cevdet Erdol, president of the Health Sciences University in Istanbul, urged Turks to boycott US tobacco products and "to stop smoking altogether", according to Turkey's state-run Anadolu news agency.

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Qatar has pledged $15 billion of direct investment in Turkey amid turbulence in the nation's markets following a spat with the U.S.

Mr Trump reportedly believed he had reached agreement with Erdogan to free Brunson in exchange for Israel's release of a Turkish woman, Ebru Ozakan, accused of providing funds to Hamas.

Evangelical pastor Andrew Brunson is standing trial in Turkey over terrorism charges.

Mr. Trump has repeatedly asked for Mr. Brunson's release, while Ankara said the decision was up to the court.

Russian officials say that this could soon change, and that they support the idea of conducting bilateral trade in the national currencies of whoever they're trading with, instead of the United States dollar. Kremlin officials say this idea needs work before being implemented.

Erdogan on Tuesday said Turkey would boycott USA electronic goods like iPhones, even though he has himself been photographed repeatedly using the product himself.

The new round of tariffs followed President Erdogan's call on Tuesday to boycott United States electronic products and earlier urging Turks to sell their dollars and euros to prop up the lira.

She said Turkey had treated Brunson "who we know to be a very good person and a strong Christian who has done nothing wrong, very unfairly, very badly, and it's something that we won't forget".

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