Qatar pledges $15 billion to invest in Turkey

Qatar pledges $15 billion to invest in Turkey

Last week, Washington doubled steel and aluminium tariffs on Turkey over its continued detention of United States pastor Andrew Brunson. U.S. officials maintain there is no credible evidence against Brunson, and the Trump administration has negotiated for weeks to secure his release. An upper court had yet to rule on the appeal, his lawyer told Reuters.

The priest he wants being USA -resident Islamic preacher Fethullah Gülen, who is accused of masterminding the 2016 military coup attempt, but that can not be a peg.

Mr Erdogan is angry that the United States has not taken more action against the Gulenist movement and what he said was a failure "to unequivocally condemn" the 2016 coup attempt.

The clergyman has been held since 2016 when he was arrested in a Turkish government crackdown following a failed coup bid. "Working with you, we have more that we're planning to do if they don't release him quickly", Mnuchin told the president.

Last week, the USA doubled its tariffs on metal imports from Turkey.

President Trump is ramping his attacks up on Turkey, claiming the country has taken advantage of the US for many years.

Turkey could be at a risk of a major default, as it is sitting on very high foreign currency debt, said Russell Napier, Independent Investment Strategist & Co-Founder of ERIC.

At 1612 GMT the currency TRYTOM=D3 stood at 6.0700 to the dollar, almost 5 percent weaker.

President Donald Trump condemned the detention of an American pastor in Turkey and warned that "we are not going to take it sitting down".

USA stocks climbed higher in afternoon trading after a Mexican economic official told reporters that trade talks between the United States and Mexico were "advancing well". The lira's sharp decline has sparked fears in the worldwide community of a Turkish economic crisis.

Referring to imprisoned pastor Andrew Brunson, Trump said "they have a great Christian pastor there, he's a very innocent man".

Although they share a last name, Gazi is not related to Berat Albayrak, Ankara's current Finance Minister and the Turkish President's son-in-law who has been facing mounting criticism online over the unfolding financial crisis. It hit an all-time low of 7.2 lira to the dollar earlier in the week.

Press secretary Sarah Huckabee Sanders also criticized Turkey's move to impose tariffs on some US goods as "regrettable and a step in the wrong direction".

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