Publicado: Vie, Agosto 17, 2018
Financiera | Por Marilu Caballero

Mnuchin: Turkey will face more sanctions if pastor not released 'quickly'

Mnuchin: Turkey will face more sanctions if pastor not released 'quickly'

On Wednesday, Turkey rejected pastor Andrew Craig Brunson's appeal to be released from custody, and slapped additional tariffs on us imports.

Earlier in August, his administration had levied sanctions against Turkey's justice and interior ministers, accusing them of playing "leading roles" in the organizations responsible for the arrest and detention of Pastor Andrew Brunson.

Tariffs on American cars were doubled to 120 percent while tariff on alcoholic drinks to 140 percent.

Tariffs were also increased on cosmetics, rice and coal.

US President Donald Trump tweeted last Friday that Washington was doubling aluminium and steel tariffs for Ankara, a move that sent the lira into a tailspin.

The decision came after Qatar's emir, Sheikh Tamim bin Hamad Al Thani, met with Turkish President Recep Tayyip Erdogan in Ankara. In response, Erdogan has called for a boycott of United States electrical goods. Turkey and the United States have different interests and priorities.

Turkey doubled tariffs on some us imports, including alcohol, cars and tobacco on Wednesday in retaliation for USA moves, while the lira rallied further after the central bank's liquidity moves had the effect of supporting the currency.

There were fears Ankara may need to turn to the International Monetary Fund as the currency crisis escalated.

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The tensions and the tariff hike by the USA have caused the Turkish lira to bleed value, fanning fears the country is on the verge of an economic crisis that could spillover into Europe. The lira lost almost 40 percent against the dollar this year and suffered a staggering collapse on the heels of Trump's announcement of increased tariffs on metals.

Brunson could face 35 years in jail if found guilty of the charges.

The local court in Izmir rejected Brunson's appeal to be released while his trial is pending.

The Turkish president said: "If they have the iPhone, there is Samsung elsewhere. The tariffs are specific to national security", Xinhua reported.

Sanders also criticized Turkey's imposition of tariffs on some US goods as "regrettable and a step in the wrong direction".

But neither President Trump, nor Turkish leader Recep Tayyip Erdogan appears ready to give ground.

It recovered a bit, by 4 percent to around 6.12 lira per dollar Wednesday, after the government took steps to shore up the currency by reducing the daily limit in bank foreign currency swap transactions.

In response, Bank Indonesia Deputy Governor Dody Budi Waluyo announcedthat the central bank was preparing intervention measures to stabilize the rupiah.

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