President Recep Tayyip Erdogan said on Wednesday that Turkey would overcome the economic hardships it is currently facing due to external economic pressure amid a diplomatic row with the United States.
Speaking at the Media Oscars award ceremony held by the Broadcast Journalists Association, Erdogan said: "It is obvious that there are structural economic problems that need to be resolved. We are already aware of them and working on the solution. Our infrastructure is strong enough to overcome these problems."
The row between Turkey and the U.S. escalated when U.S. President Donald Trump decided to impose sanctions on Turkish Ministers Suleyman Soylu and Abdulhamit Gul on August 1 and also increase tariffs on imported steel from Turkey by 50 percent and aluminum by 20 percent, while threatening more sanctions over the detention of terror-linked Evangelical Pastor Andrew Brunson.
The pastor is under house arrest in Turkey on charges of links to the Gulenist Terror Group (FETO) and the PKK, a U.S.-designated armed terrorist organization. In retaliation, Turkey increased tariffs on certain U.S. goods by up to 100 percent and higher.
The Turkish president said that the structural problems alone could not be enough reason for the current issues in the country's economy, stating: "Some people do not shy away from admitting that they are trying to corner Turkey."
Erdogan assured that necessary measures had been taken and allies are also supporting Turkey financially, reiterating that Ankara will not bow to Washington's threats.
Turkey garnered extensive support from European partners such as France and Germany, as well as Russia, China, Kuwait and Qatar who raised their voices to highlight the significance of the Turkish economy, amid attacks from the threatening economic showdown initiated by Trump.
Source: International Islamic News Agency