More US sanctions for Turkey if they don't obey - Reuters

Joshua Gibson FXStreet

According to Reuters, the US is warning Turkey that if they don't release detained American pastor Andrew Brunson, though the US is seeing relations deteriorate with the small country as US President Trump has already announced that they will not be removing their tariffs on Turkey, even if Erdogan gives the US what it wants.

Key quotes

"U.S. Treasury Secretary Steven Mnuchin assured President Donald Trump at a Cabinet meeting that sanctions were ready to be put in place if Brunson was not freed.

“We have more that we are planning to do if they don’t release him quickly,” Mnuchin said during the meeting.

The United States and Turkey have exchanged tit-for-tat tariffs in an escalating attempt by Trump to induce Turkish President Tayyip Erdogan into giving up Brunson, who denies charges that he was involved in a coup attempt against Erdogan two years ago.

“They have not proven to be a good friend,” Trump said of Turkey during the Cabinet meeting. “They have a great Christian pastor there. He’s an innocent man.”

Trump’s national security adviser, John Bolton, had issued a blunt warning to Turkish ambassador Serdar Kilic when he met him on Monday at the White House, an administration official said on Thursday.The dispute over Brunson and other frictions between Washington and Ankara have been one reason the Turkish lira has plunged 40 percent this year. Investors also fret over Erdogan’s influence over monetary policy."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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