WEB DESK
Turkish President Recep Tayyip Erdogan Tuesday announced that his country will boycott American electronic products. The announcement came in his address to a symposium organized by the Foundation for Political, Economic and Social Research (SETA) on the 17th foundation anniversary of the ruling Justice and Development (AK) Party, reports Anadolu from Ankara.
“We will boycott America’s electronic products,” Erdogan said mentioning that Turkey would produce the better of every product bought with foreign currencies and export them.
“They do not refrain from using economy as a weapon against us (Turkey), as they (also) tried in the areas of diplomacy, military, or efforts for social and political instability,” he added.
Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.
U.S. President Donald Trump on Friday ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.
Meanwhile Turkey’s industry and technology minister on Tuesday announced a new support package worth 1.2 billion Turkish liras (approx. $183 million) for industrialists.
The package aims to reduce current account deficit and encourage production of high value-added outputs, Mustafa Varank said in a statement.
The industrialists will benefit from the package through the Technology and Innovation Grant Programmes Directorate TEYDEB 2.0, a new support system of the Scientific and Technological Research Council of Turkey (TUBITAK).
“We will provide 1.2 billion liras (approx. $183 million) in three years for projects that will be implemented through TEYDEB’s project announced this year,” Varank said.