World stocks rise as US, China agree to hold trade talks

Saturday, 18 Aug, 2018

On Thursday, Trump said Turkey had "taken advantage of the United States for many years" and referred to Brunson as a "great patriot" who was being held "hostage".

Trump tweeted on August 10 that he has authorized a doubling of tariffs on Turkish steel and aluminum imports as their currency Lira slides rapidly downward against the United States dollar.

Since the recent developments, a number of countries, including Germany, China, Iran, Italy, and Qatar, voiced support for the Turkish economy and called for a diplomatic solution to the problems between the two North Atlantic Treaty Organisation allies.

"And he seemed to downplay the risks in the corporate and banking sector posed by large foreign currency debts". He is accused of having links to a group that Ankara says was behind the coup. They want to hold our wonderful pastor.

The currency has recovered from record lows earlier this week.

Elmira Bayrasli, who teaches worldwide affairs with a focus on Turkey at Bard College, said that Erdogan is improving relations with Europe to increase confidence in the Turkish market.

Gallego said that Brunson's lawyer had indicated he would be willing to take his client's case to the constitutional court.

On Wednesday, in retaliation, Turkey increased tariffs on several US-origin products, including alcohol, tobacco products and cars.

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The White House might have a point if they accept Erdoğan's former remark, in an offer of exchange to "Give the priest, take the priest".

As Turkey's government sought to reassure markets after the lira had been sent into a tailspin by the deepening spat, Washington said the next raft of sanctions could be on the way.

In a conference call with thousands of investors and economists, Albayrak - who is Erdogan's son-in-law, said Turkey fully understood and recognised all of its domestic challenges, but was dealing with what he described as a market anomaly.

He said: "I have just authorised a doubling of Tariffs on Steel and Aluminium with respect to Turkey as their currency, the Turkish Lira, slides rapidly downwards against our very strong Dollar!"

President Trump tweeted Thursday evening calling for Brunson's release, saying that the U.S.

Analysts say Turkey is also likely to seek a more dynamic economic relationship with China and Russian Federation, with whom ties have warmed considerably in recent years.

Erdogan wrote in an op-ed last week for The New York Times: "The Turkish people expected the United States to unequivocally condemn the attack and express solidarity with Turkey's elected leadership".