World Bulletin / News Desk
Turkey on Friday threatened to respond if Washington levied further sanctions over the detention of an American pastor which has sparked a diplomatic standoff and battered the Turkish currency.
As Ankara sought to reassure markets after the lira went into a tailspin over the deepening spat, US Treasury Secretary Steven Mnuchin warned more sanctions would be on the way until Andrew Brunson was released.
Last week, US President Donald Trump said he had doubled the tariffs on aluminum and steel tariffs from Turkey, prompting Ankara to sharply hike tariffs on several US products.
And on Friday, Turkey's Trade Minister Ruhsar Pekcan said to expect more of the same.
"We've already responded based on the World Trade Organization rules and will continue to do so," state-run Anadolu news agency quoted him as saying.
The nearly two-year detention of Brunson, who is being held on terror charges, has soured relations between the two NATO allies and sent the lira tumbling.
The lira, which earlier this week traded at well over seven to the dollar, had rebounded slightly over the last three days but on Friday it lost over five percent of its value around 1250 GMT.
In the afternoon trade, it was quoted at 6.1 against the greenback after touching 6.3 at one time.
Last Mod: 17 Ağustos 2018, 17:50