US President Donald Trump on Friday announced the US was doubling tariffs on steel and aluminium imports from Turkey, saying relations with Ankara were "not good at this time".
The Turkish lira has lost about 40 per cent of its value this year, largely over worries about Mr. Erdogan's influence over the economy, his repeated calls for lower interest rates in the face of high inflation and worsening ties with the United States.
Adding to Turkey's problems, the Trump administration doubled tariffs on the country's steel products on Friday.
Last week, the U.S. imposed sanctions on Turkey's justice minister and interior minister for refusing to release American pastor Andrew Brunson, who had been in custody since 2016 on charges of terrorism and espionage that Washington says are bogus.
After losing around 18% against the U.S. dollar on Friday the lira plunged another 10% as Asian currency markets opened on Monday at 7am AEST.
"As he stated, the president has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey", White House Deputy Press Secretary Lindsay Walters said.
"They have been trying to achieve what they failed to do through provocations and a coup attempt with money now", he said.
Turkish market shares of the total Egyptian exports is about 5%, which is a very modest share, said Mohamed Abu Basha, head of macroeconomic analysis at the Cairo-based investment bank EFG-Hermes, noting that the Turkish Lira slump is a big issue, which Turkish authorities will find huge difficulties to deal with. Gulen has denied the allegation.
Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, in July.
Jay Sekulow, an attorney for Trump who is also representing Brunson's family, told talk-show host and political commentator Sean Hannity's radio program on Friday: "We're close to getting a resolution in that case".
After Mr. Brunson had been in jail for nearly 20 months, a court in July ordered him to be moved to house arrest.
Ronaldo sprinkles star dust on Juventus in intimate opener
The former Real Madrid striker played in his first match for Juventus in a friendly against the club's B team at Villar Perosa. During the years, we played a few times against Juve and I had a special feeling that the Italian supporters like Cristiano.
Manchester City too strong for Arsenal and Unai Emery
We were the best last season, definitely, there is no doubt about it. "I'm not rigid to stick to one formation or way of playing". Emery now has a clear sense of the task he faces, throwing his arms in the air in frustration as the goals were conceded.
Djokovic happy to beat Polansky and the clock in Toronto
Both also, it so happens, set showy matches with, respectively, the in-form No14 seed Fabio Fognini and No7 seed Dominic Thiem. The inclement weather also forced Shapovalov to wait, but the Canadian had no issues dispatching Chardy 6-1 6-4.
Map shows best places to watch weekend meteor shower
Lucky observers may see the occasional meteor sailing across the sky for several seconds, leaving behind a trail of glowing smoke. Or head to the North Cascades, overlooking famously turquoise Diablo Lake near Colonial Creek South Campground .
Rob Lowe slams Academy chiefs over Oscars changes
The Academy has traditionally looked down on certain genres, generally ignoring horror, fantasy, science fiction and comedy films. In recent years, the Academy Awards have continuously suffered from low ratings. 'The Dark Knight' via Warner Bros.