Qatar comes to help, Turkey Rejects 2nd Appeal to Release U.S. Pastor Andrew Brunson and Turkish leaders saves the day…

Of course, this seems to be a short period of saving face for Turkish leaders… 

The emir of wealthy Qatar flew to Turkey Wednesday to meet close ally President Recep Tayyip Erdogan in an apparent show of support as Ankara grapples with a currency crisis.
Turkish lira rallies as Qatar invests $15bn, but markets slide – as it happened

All the day’s economy and financial news, as Ankara hikes the tariffs on US rice, spirits and cars..and gets a cash boost from Qatar

President Donald Trump is frustrated that Turkey has not released U.S. pastor Andrew Brunson, according to the White House, which is ratcheting up pressure on Ankara to free him after two years of detention.
Berat Albayrak: the Jared Kushner of Turkey tackles its crisis

President Erdoğan gave his son-in-law wide powers as finance minister – and they will succeed or fail together

Consigliere for more than a decade and now Turkey’s second most powerful person, Berat Albayrak’s rise through the ranks has become one of the most consistent – and contentious – themes of the country’s recent history.

Ankara also sharply raised tariffs on American-made alcohol, cars and tobacco, ramping up the trade dispute between the countries.
Turkey’s disappointment regarding the Trump administration’s stance is much deeper because it has not taken into account its ally’s national security concerns, the Turkish government has said in response to a statement from a White House official that United States President Donald Trump is frustrated Turkey has not released pastor Andrew Brunson.
Turkey has engaged in a fresh diplomatic attack against the sanctions imposed by the United States with President Recep Tayyip Erdoğan in talks with prominent European and Gulf countries in a bid to seek more support as the Turkish Lira falls rapidly against the U.S. dollar.
A court in Turkey’s western province of İzmir rejected an appeal on Aug. 15 for United States Christian pastor Andrew Brunson to be released from house arrest during his trial on terrorism charges, state-run Anadolu Agency has reported.
Turkey’s currency has rebounded on Aug. 15 to 5.9 against the U.S. dollar.

Turkey and the United States are currently embroiled in a bitter diplomatic spat over the detention of an American evangelical pastor. This has resulted in an economic war between the former allies, with the United States issuing sanctions on the country, and placing tarrifs on certain Turkish goods. A consequence of this is the value of the Turkish Lira has plummeted to its lowest level ever. In response, Turkey’s furious president Reycep Teyepp Erdogan has called for a boycott of US electronic goods, particularly the Apple iPhone. In a speech reported by CNBC, Erdogan said: “If they have iPhone, there
The country has unique challenges, but other emerging markets where big borrowing fueled rapid growth and strong returns could feel the pinch of a stronger dollar.
Turkish President Recep Tayyip Erdoğan and Germany’s Chancellor Angela Merkel discussed bilateral ties and the situation in Syria during a phone call on Aug. 15, a presidential source said.
As President Recep Tayyip Erdogan of Turkey applies his strongman tactics to the economy, the country faces a crisis that could reverberate through global markets.
The fate of the world economy depends on how China negotiates a weakening currency and capital flight.
Speaking about the additional customs duties imposed on the US, the Minister of Commerce Ruhsar Pekcan has said, “We have doubled the tax rates of 22 items. We will give the necessary response.”
Ankara says the rises were ordered after “attacks on the Turkish economy” by the US.
Reuters – Reuters Editorial – Aug 14, 11:18 AM

WASHINGTON (Reuters) – The United States is warning more economic pressures may be in store for Turkey if it refuses to release a jailed American pastor, a White House official said on Tuesday, in a dispute that has further strained relations


How Turkey’s Economic Problems Are Viewed In Istanbul

With Turkey’s currency volatile and an ongoing battle between Turkish President Recep Tayyip Erdogan and President Trump, Turks are tense about

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