Erdogan targets American consumer products in retaliation for sanctions

Turkey’s president escalated tensions with the US on Tuesday after calling for a boycott of American electronics, amid reports that diplomatic talks have stalled over the issue of a detained US pastor.

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Showing no signs of backing down in a standoff with President Donald Trump, Recep Tayyip Erdogan suggested that Ankara would stop buying US-made iPhones and buy Korean Samsung or Turkish-made Vestel instead.

“If they have the iPhone, there is Samsung elsewhere. We have Vestel,” he said, renewing calls for people to convert their dollars to lira as the Turkish currency began to rally on Tuesday morning.

However, financial experts questioned whether much a move would have much of an effect given Turkey’s current purchasing power.

The country’s finance chief, Mr Erdogan’s son-in-law is due to address foreign investors later on Tuesday, in an attempt to quell growing concerns. 

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