Turkey's Erdogan Threatens Boycott of US Goods
Turkey's President threatened Tuesday to boycott U.S. electronic goods because of what he calls an economic war against Turkey by the United States.
President Erdogan told political supporters in Ankara that he would start "a boycott against America's electronic goods." He urged Turks to buy local or Korean mobile phones, instead of American iPhones.
Erdogan, however, did not announce any government action towards a boycott.
The president's comments came after diplomats from both sides met Monday to calm tensions.
The call for a boycott appears to be Erdogan's answer to the U.S. decision to double tariffs on Turkish steel and aluminum imports. In addition, the U.S. has placed sanctions on two Turkish ministers over the arrest of an American pastor who is charged with having links to terrorism.
Erdogan also has called on people to exchange their U.S. dollars for Turkish lira to help strengthen the exchange value of the country's currency.
"If we divert our money to foreign currency...then we will be in the position of having surrendered to the devil," Erdogan said.
The dispute between the U.S. and Turkey has started an economic crisis in Turkey that has pushed its currency to historic lows. The exchange value of the lira has fallen about 40 percent against the U.S. dollar since January. Last week it dropped 16 percent in one day.
However, severe changes in the value of the currency calmed Tuesday after news that U.S. national security adviser John Bolton had met with the Turkish ambassador to Washington Monday.
International investors are worried about Turkey's high amount of debt held in foreign currencies, especially the dollar. Most economists say Erdogan should raise interest rates to support the Turkish lira, but Erdogan wants to keep rates low to support growth. Investors are also worried about the effects of the dispute between two NATO allies.
In a statement released Tuesday, Turkish business groups called on Erdogan to let the Turkish central bank raise interest rates to stop the currency crisis. They also called on Turkey to work with the United States to improve relations.
The Turkish central bank has promised that Turkish banks will have all the money they need. But, foreign investors are concerned that the central bank may not act because of political interference. Central banks try to ignore politics when making economic decisions.
In the case of the American pastor, the lawyer representing Andrew Brunson again asked a Turkish court to release him from house arrest. The 50-year-old pastor is charged with terrorism links and spying. He denies the charges. Brunson faces a possible prison sentence of 35 years.
I'm Susan Shand.
1.electronic goods 电子产品
China mainly exports electronic goods, machinery, garments and shoes to Latin America.
2.economic war 经济战
We are defending our people against an act of economic war.
3.instead of 代替
They wore ordinary ties instead of the more formal high collar and cravat.
4.interest rates 利率
Low interest rates are bad news for savers.
5.The dispute between the U.S. and Turkey has started an economic crisis in Turkey that has pushed its currency to historic lows.
economic crisis 经济危机
His money was haemorrhaged in that economic crisis.
Many companies have been sent under in the economic crisis.
6.In addition, the U.S. has placed sanctions on two Turkish ministers over the arrest of an American pastor who is charged with having links to terrorism.
have links to 与...有关
Israel accuses the charity of having links to terrorism, a charge it denies.
About 80 people suspected of having links to the mafia have been detained in Italy.
国际投资者对土耳其持有的高额外币债务，尤其是美元债务表示担忧。多数经济学家表示，埃尔多安应该提高利率以支持土耳其里拉，但是埃尔多安希望保持低利率来维持经济增长 。投资者也担心美国和土耳其这两个北约盟国的争端产生的影响 。
土耳其央行承诺，土耳其银行将筹集他们所需的全部资金。但是外国投资者担心，央行可能不会因政治干预而采取行动 。各国央行在做经济决策时都会尽量忽视政治考量 。
在美国牧师一案中，安德鲁·布伦森（Andrew Brunson）的代表律师再次要求土耳其法院解除对他的软禁。这位50岁的牧师被控同恐怖主义有联系并从事间谍活动 。布伦森否认了这些指控，他可能会面临35年监禁 。