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Turkish President Threatens Boycott Of U.S. Electronic Goods


In retaliation for U.S. sanctions on Turkey over its refusal to extradite a U.S. preacher imprisoned in the country, Turkish President Recep Erdogan threatened to boycott U.S. electronic goods, including Apple's flagship iPhone device.

Speaking at a Symposium in the Turkish capital of Ankara on Tuesday, Erdogan said, "If they have iPhone, the other side has Samsung."

Erdogan also suggested Turkish smartphone brand Vestel Venus as an alternative for Turks to buy, reportedly prompting shares in that company to rise almost 5 percent.

The Turkish president also warned that those who are waging "economic warfare" against Turkey will pay a price.

"There is a price we're paying for the period we're in," Erdogan said, referring to the economic crisis deepened by the U.S. sanctions. "But there will be a price those who're waging economic warfare against Turkey will also pay."

Erdogan claimed he has been taking necessary measures to halt the recent slide in Turkish assets.

Even as Turkey's leader refuses to back down in the diplomatic dispute with America, Turkish stocks rebounded Tuesday and the lira rose by 5 percent.

U.S. President Donald Trump's announcement Friday that he would increase tariffs on steel and aluminum originating from Turkey had an adverse effect on the Turkish market, with the lira and stocks plunging sharply.

Turkey, which is America's European ally, accused Washington of stabbing it in the back by imposing sanctions despite being NATO partners.

Meanwhile, White House National Security Adviser John Bolton met Turkey's Ambassador to the U.S. Serdar Kilic and insisted the U.S. won't end the diplomatic row between the two countries until U.S. pastor Andrew Brunson is released from house arrest.

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