Qatar promises $15 billion investment in Turkey

Qatari Emir Sheikh Tamim bin Hamad al Thani and Turkey's Recep Tayyip Erdogan during their meeting after an official welcoming ceremony at Presidential Complex in Ankara Turkey

Americans should ask Germans how to deal with Turks

US Treasury Secretary Steven Mnuchin threatened further sanctions against Turkey if it fails to release detained American pastor Andrew Brunson.

A money changer counts Turkish lira banknotes at a currency exchange office in Istanbul, Turkey Aug. 2, 2018.

This has worsened a crisis for Turkey's currency, the lira, which has lost about a third of its value against the dollar since January. It's not clear how much more they'd be willing to contribute if the United States just keeps making things worse.

Trump prefaced Mnuchin's remarks by saying that Turkey had not been a very good friend to America. Referring to imprisoned pastor Andrew Brunson, Trump said "they have a great Christian pastor there, he's a very innocent man".

The Turkish currency fell again on Friday, breaking a three-day quiet spell in the country currency crisis, after the United States threatened to impose new sanctions on the North Atlantic Treaty Organisation country.

"We will produce every product we are importing from overseas with foreign currency here and we will be the ones exporting these products", he said.

Turkey says the case is a matter for the courts.

Last week, the USA doubled its tariffs on metal imports from Turkey.

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Brunson, a pastor who is a long time resident in Turkey, is alleged by the government to have links to the outlawed Kurdistan Workers Party and the Gulenist movement, both of which are accused of being involved in 2016's failed coup against Erdogan.

In an intensifying cycle of tensions with the United States, Erdogan has called for a boycott of U.S. electronic goods such as iPhones and Ankara has sharply hiked tariffs on some USA products. Since the United States has large numbers of troops positioned in Qatar and Turkey, it's not clear they could afford to alienate both by escalating the diplomatic conflict too far.

If he's not released, Pastor Brunson's next hearing is scheduled for October 12.

Despite its economic woes, Turkey did this week find support from friendly Qatar, which promised to make a $15 billion direct investment in the country.

Trump later said in a tweet the United States "will pay nothing" for Mr Brunson's release, "but we are cutting back on Turkey!"

The Trump administration has already sanctioned two Turkish leaders over the pastor's imprisonment.

The crisis has been precipitated by investor alarm about President Tayyip Erdogan's influence over monetary policy.

American officials have also protested the detentions of several Turkish employees of the USA diplomatic mission in Turkey, including Metin Topuz, Hamza Ulucay and Mete Canturk. If convicted, he faces up to 35 years in jail.

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