On Saturday, President Tayyip Erdogan denied that Turkey is in a currency crisis. reuters reports that he dismissed a plunge in the lira as ‘fluctuations’ which have nothing to do with economic fundamentals.
He spoke after U.S. President Donald Trump doubled tariffs on Turkish steel and aluminum imports. Erdogan described Friday’s 18 percent fall in the lira to a record low as the ‘missiles’ of an economic war waged against Turkey.