(Suzan Fraser – Associated Press)
Turkey's president appeared to escalate a dispute with the United States that has helped foment a Turkish currency crisis, claiming Tuesday that his country will boycott U.S.-made electronic goods. Behind the scenes, however, diplomats resumed contact to ease tensions.
Addressing a conference of his ruling party faithful in the capital, Recep Tayyip Erdogan added fuel to the spat with the U.S., even as local business groups called on his government to settle it.
Investors seemed to look through the fiery rhetoric, pushing the lira off record lows on confirmation that Turkish and U.S. government officials met on Monday.
"We will implement a boycott against America's electronic goods," Erdogan told the conference. He suggested Turks would buy local or Korean phones instead of U.S.-made iPhones, though it was unclear how he intended to enforce the boycott. Click here to read more.
- Turkish Leader Talks Big, But Can be Pragmatic in Crises (Associated Press)
- Turkey’s Lira Crisis Tests Erdogan’s Authoritarian Approach (New York Times)
- Erdogan Calls for Turkish Boycott of U.S.-Made Electronics, Singling Out Apple’s iPhone (Washington Post)