Turkey Successfully Resists Economic Coup - Erdogans Administration

ANKARA (Pakistan Point News / Sputnik - 16th August, 2018) Turkey successfully resists the attempted "economic coup" against the country due to the firmness of Turkish people and leadership of President Recep Tayyip Erdogan, Turkish presidential administrations spokesman Fahrettin Altun said on Thursday commenting on US tariffs against Turkey.

On Saturday, Erdogan accused Washington of waging "economic war" against Ankara after US President Donald Trump authorized the doubling of steel and aluminum tariffs on Turkey, up to 50 and 20 percent respectively. The Turkish lira briefly fell 20 percent against the US Dollar reaching a record low amid the news. In response, Turkey imposed tariffs on a number of US goods. The lira exchange rate somewhat improved after reports about Qatars readiness to invest $15 billion in the Turkish economy.

"Due to firmness of our people and leadership skills of our president we are resisting this attempted economic coup. Our nation will remember those who stand with it, and those who oppose it," Altun wrote on his Twitter page.

On Wednesday, Turkish presidential spokesman Ibrahim Kalin said that the economic situation in Turkey started to improve on Tuesday due to the actions taken by the countrys government.

During his presidential campaign, Trump promised to change the countrys trade policies by resorting to protectionism. After his inauguration, the leader started to fulfill his promises, which, in addition to the tariffs, included withdrawing the United States from the Trans-Pacific Partnership (TPP) and renegotiating the North American Free Trade Agreement (NAFTA).