Turkish firms cancel iPhone orders amid nationwide boycott on USA products

The development comes amid rising tensions between Turkey and its NATO ally

According to the Hurriyet Daily, a significant number of importers have begun to withdraw their short and long-term orders after Turkish President Recep Tayyip Erdogan's appeal to boycott USA electronic products on Tuesday.

The tariff increases amount to a doubling of the existing rate, the state-run Anadolu news agency said, in an apparent parallel response to Trump´s move.

Serving at the Diriliş (Resurrection) Protestant Church in the western province of Izmir, Brunson was arrested in October 2016 and moved to house arrest on July 25 due to health problems.

A decree by Erdogan doubled Turkish tariffs on imports of U.S. passenger cars to 120 per cent, alcoholic drinks to 140 per cent and leaf tobacco to 60 per cent. Tariffs were also doubled on goods such as cosmetics, rice and coal.

Ankara acted amid increased tension between the two North Atlantic Treaty Organisation allies over Turkey's detention of a pastor and other diplomatic issues, which have helped to send the lira tumbling to record lows against the dollar.

Additionally, Russian Foreign Minister Sergei Lavrov on Tuesday visited Ankara, where he said Moscow has been exploring for some time using national currencies to settle bilateral trade deals with Turkey and other countries.

Qatar's royal court released a statement saying Al-Thani "issued directives that will see the State of Qatar to provide a host of economic projects, investments, and deposits" worth $15 billion to support the Turkish economy. "Turkish-Qatari relations are based on solid foundations of true friendship and solidarity", he said.

Berat Albayrak sought to reassure uneasy investors and economists during the mammoth call, insisting Turkey would emerge stronger from its current currency woes.

Turkish presidential spokesman Ibrahim Kalin referred to the conflict with the USA in stark terms saying, "Turkey does not favor an economic war, but it can not remain unresponsive when it is attacked".

Some 3,000 investors registered to join Albayrak's planned tele-conference, the private NTV broadcaster reported.

The lira was trading on Wednesday at 6.02 to the dollar, a gain in value on the day of 5.5 percent.

Michael Hewson, chief market analyst at CMC Markets UK, warned the Turkish tariff hikes risked provoking a new reaction from Trump and ultimately adding to downward pressure on the lira.

Mr Pence tweeted: "Pastor Andrew Brunson is an innocent man held in Turkey & justice demands that he be released". "We have other partnerships and alternative markets".

He added: "Our strong relations with the Republic of Turkey enjoy a special status among our people".

Erdogan and his French counterpart Emmanuel Macron agreed in a phone call Thursday to foster trade ties, a Turkish presidential source said.

Washington is demanding the pastor be released but Turkish officials say the case is a matter for the courts.

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