Turkey's President Recep Tayyip Erdogan is lashing out on Washington this Tuesday, saying he is brewing up plans to ban electronic products coming from the United States. This decision comes after the Trump administration imposed punitive sanctions on Ankara, with the Turkish lira taking the first blow.
According to the report from the Washington Journal, the boycott is just but part of Erdogan's campaign to retaliate against the economic sanctions placed by the White House.
"We are going to apply a boycott on America's electronic products," the Turkish president said in a speech made during the 17th-anniversary celebration of his ruling party, Justice, and Development Party (or AK PARTi).
Although it was not clearly stated as to when the product ban will kick off, Erdogan said that the country's tech needs could easily be sufficed by the ones manufactured in South Korea, that is, Samsung. Moreover, Turkey could also take advantage of home-grown electronic products deemed at par with the likes of Apple's iPhones.
Erdogan went on to say that the government has already been taking the necessary measures to ensure economic stability.
He added that Turkey should not "give in to the enemy," that is the US, and stop investing in using its currency - a move that earns a commendation from allies such as Russia. Sergei Lavrov, Russia's Foreign Minister, who is currently in Ankara, said in a separate press briefing that the US sanctions are highly uncalled for and that Washington has done, what is called, an exploitation of its position in the global trade.
Turkey's Plunging Currency
According to reports, the Turkish Lira has been suffering greatly over the latest rift between the Erdogan administration and Trump's. As early as January, the currency was found at its lowest rate of more than 30 percent down against the US dollar.
Financial analysts point out that if the terms of the sanctions continue to escalate, a major part of the Turkish market will definitely suffer. As reported earlier, the country's advertising market and aesthetic industry, to name a few, has already been hit by the restrictions.
Turkey, however, would still be able to "hold on for a long time," said one economist, but only if Erdogan knows exactly what moves to make to buffer up the situation.
The Case of Pastor Brunson
Last month, Washington threatened to impose "large sanctions" on Turkey should it fail to hand over the detained American pastor, Andrew Brunson.
As previously reported, Brunson was held under custody by the Turkish government for suspicions of terrorism and espionage.
