As the currency crisis deepens, Turkish leaders put all the blame on foreign interventions…

Recep Tayyip Erdoğan tried to restore confidence in the Turkish lira after it plunged by more than 20% against the dollar on Friday. The sudden drop came when Donald Trump announced on Twitter he was doubling US import tariffs on Turkish steel and aluminium.

Dollar Hits 6.56 Turkish Lira as Berat Albayrak Speaks

Bianet :: English

The Minister of Finance and Customs Albayrak delivered his speech at the publicity meeting, where he introduced the “New Economic Model”, when the exchange rate of US Dollar was 6.13 TRY. In the course of his speech, the exchange rate has hit 6.56 TRY.

Türk iş dünyası da neredeyse tam kadro Dolmabahçe’de. Güler Sabancı, Tuncay Özilhan, Hüsnü Özyeğin, Ferit Şahenk, Ali Ülker, Mehmet Ali Aydınlar de Berat Albayrak’ın konuşmasını bekliyor pic.twitter.com/GY0Nn97DaE

— hilmi hacaloğlu (@hilmihacaloglu) August 10, 2018

The president’s decision, announced in a tweet, raised the possibility of further tariff escalations with China and other countries whose currencies are falling against the dollar.

Nearly all the currency exchange places in this part of Istanbul have stopped updating their rates. There’s small crowds inside, workers watching screens nervously. Note the difference between buying and selling dollars. pic.twitter.com/TdAGvMpODw

— Umar Farooq (@UmarFarooq_) August 10, 2018

How Turkey Sees the Crisis with the U.S.

NYT > Turkey by By RECEP TAYYIP ERDOGAN

Unilateral actions against Turkey by the United States will undermine American interests and force Turkey to look for other friends and allies.

Trump says US ‘relations with Turkey are not good at this time’

 Hurriyet Daily News

U.S. President Donald Trump said on Aug. 10 he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel, as tensions mount between the two NATO allies over Ankara’s imprisonment of an evangelical pastor and other diplomatic issues.

Turkey’s new economic model to be executed decisively with international stakeholders: Minister Albayrak

 Hurriyet Daily News

Treasury and Finance Minister Berat Albayrak has vowed to execute Turkey’s new economic model together with “all national and international stakeholders,” while adopting a “decisive” approach.

US: Pastor Brunson Needs to be Returned Home

Bianet :: English

US State Department Spokesperson Nauert has touched upon the bilateral meeting held with delegation from Turkey and said that they will “define progress as Pastor Brunson being brought home”.

Turkish Lira Drops as Political Turmoil Takes its Toll

NYT > Turkey by By JACK EWING

The loss of confidence in the currency reflects tension between Ankara and Washington, as well as concerns among foreign investors over domestic policies.

Trump doubles metal tariffs on Turkey as lira falls by 20%

 BBC News | Europe | World Edition

Turkey’s currency falls 20% as the US leader announces a doubling of metal tariffs on the Nato ally.

The case of a detained American pastor seemed to trigger the latest salvo. But a long list of complaints has been building between the two NATO allies.