Turkey's President Recep Tayyip Erdogan addresses Turkish Ambassadors during a meeting in Ankara, Turkey August 13, 2018. Kayhan Ozer/Presidential Palace/Handout via REUTERS
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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.Investors are worried not only about Turkey's souring relations with the U.S., a longtime NATO ally, but also Erdogan's economic policies and the country's high debt accumulated in foreign currencies. Independent economists say Erdogan should let the central bank raise interest rates to support the currency, but he wants low rates to keep the economic growth going.The business groups also urged diplomatic efforts with the United States and an improvement in relations with the European Union, which is Turkey's major trading partner.The United States' top diplomat in Turkey, Jeffrey Hovenier, visited Brunson on Tuesday and called for his case -- and those of others detained in Turkey -- to be resolved "without delay" and in a "fair and transparent manner".Erdogan on Tuesday maintained that Turkey's economy was under attack and that the currency turmoil did not reflect its strength.
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