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Turkish firms cancel iPhone orders amid USA products boycott

17 August, 2018, 22:11 | Author: Sara Gill
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Gold prices shed over one per cent on Thursday to hit their lowest in more than 19 months, with the United States dollar holding steady near a recent peak as concerns about a Turkey crisis and China's economic health weighed on emerging market currencies.

The currency has recovered from record lows earlier this week.

The White House said Wednesday that the United States "won't forget" how Turkey treated Andrew Brunson, the detained American pastor, after a court rejected his appeal for release. "We have more that we're planning to do if they don't release him quickly". "So, we haven't seen the last of that".

Almost 10 million people use US' iPhones in Turkey, press reports said, adding that the amount paid for the products hit $7 billion in 10 years. US President Donald Trump told reporters Friday that Turkey has "not acted as a friend", adding that "they made up these phony charges that he's a spy".

"We got somebody out for him", Trump said.

On Wednesday, Vice President Mike Pence affirmed that the Trump administration would continue its efforts on behalf of Brunson, according to Kurdistan24.

"Certainly the president has a great deal of frustration on the fact that Pastor Brunson has not been released as well as the fact that other USA citizens and employees of diplomatic facilities have not been released, and we're going to continue to call on Turkey to do the right thing and release those individuals", she said. Investors also fret over Mr Erdogan's influence over monetary policy.


When Mr Kilic sought to tie conditions to Mr Brunson's release, Mr Bolton waved them aside and said there would be no negotiations.

He called Mr Brunson "a great patriot hostage".

Qatar said it would provide "a host of economic projects, investments and deposits" worth $15 billion to support Turkey's economy.

Turkey is calling for the U.S.to extradite a Pennsylvania-based Muslim cleric accused engineering a 2016 coup attempt.

US and Turkey relations have been souring, after President Trump doubled tariffs on Turkish steel and aluminum in response to his continued imprisonment.

Speaking to his supporters on Tuesday, Erdogan slammed the United States for using the economy as a "weapon" and said the Turkey was facing an "economic attack" and a "bigger, deeper operation".

The lira lost strength after Mnuchin's remarks.

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