Erdogan says U.S. set deadline for pastor's release

'Our Relations Are Not Good!' Trump Targets Turkey with New Sanctions over Brunson's Detainment

The White House said he had authorised them under a section of USA trade law that allows for tariffs on national security grounds.

Jay Sekulow, an attorney for Trump who is also representing Brunson's family, told talk-show host and political commentator Sean Hannity's radio program on Friday: "We're close to getting a resolution in that case". "With God's permission we will overcome this", he added.

Following the announcement, the Turkish lira also hit record lows at 20 percent to the dollar, in the midst of a financial panic about the country's economic health.

The two North Atlantic Treaty Organisation members are at odds on a number of issues - how to fight the Islamic State group, Ankara's plans to buy Russian missile defence systems, and how to punish the alleged plotters of a failed coup in Turkey in 2016.

President Recep Tayyip Erdogan on Sunday said the crash of the Turkish lira, sparked by a bitter dispute with the United States, was a "political plot" against Turkey and warned Ankara would now seek new markets and partners.

In a statement the White House clarified that Trump had authorized the preparation of documents to raise steel and aluminum tariffs. Our relations with Turkey are not good at this time!'

'Aluminum will now be 20 per cent and Steel 50 per cent. It did not say when the tariffs would take effect.

Relations between Turkey and the US have been tense over a range of issues, from the Syrian conflict to the imprisonment of American pastor Andrew Brunson.

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Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 1.47-to-1 ratio favored decliners. Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand.

It was down roughly 0.5 percent to trade at $1.146 on Friday morning.

It said it would support steel and aluminium exporters on all worldwide platforms, and the U.S. remained an important trade partner. Turkey's national tender has already fallen more than 40% in the past year, and this is the first time ever that it took more than 6 lira to buy a dollar.

"It is wrong to dare bring Turkey to its knees through threats over a pastor", Erdogan said in the Black Sea town of Unye.

On Saturday, Turkish president Recep Tayyip Erdogan warned the U.S. that it could lose a "strategic partner", declaring a rally: "We only bow before God".

President Erdogan urged his people in a counter-tweet: "Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks".

The new duties on Turkey are double the level that Trump imposed in March on steel and aluminium imports from a range of countries.

Since then, its relationship with Turkey, the sixth largest steel importer to the U.S., the world's biggest steel importer overall, has deteriorated, prompting Ankara to send a delegation this week to Washington to meet with both the State and Treasury Departments.

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