President Recep Tayyip Erdogan vowed to boycott U.S. electronic goods, including iPhones in a demonstration of defiance as the U.S. held firm to its demand that Turkey releases an evangelical pastor and Turkish executives called for action to bolster the lira.
Erdogan maintained an assertive stance in a speech Tuesday and claimed he had been taking necessary measures to arrest the recent slide in Turkish assets.
Speaking at a Symposium in Ankara, Erdogan said Turkish businesses must continue to produce and export the country’s own goods. He added that U.S. electronics would have sanctions placed on them.
“If they have iPhone, there is Samsung on the other side. And we have our own telephone brands,” he said.
The lira lost a quarter of its value this month as Donald Trump doubled tariffs on Turkish steel and aluminium imports and slapped sanctions on two ministers. It rebounded on Tuesday as Turks sold dollars.
“There is a cost for those who are plotting the operation” against Turkey, Erdogan said in the first of two speeches in Ankara, without specifying when the boycott would start or how it would be enforced. Singling out the iPhone, he suggested Turks buy Samsung Electronics Co. or locally made Venus Vestel smartphones instead.