China Believes Turkey Can Overcome 'Temporary' Economic Strife - Foreign Ministry
Rukhshan Mir (@rukhshanmir) Published August 17, 2018 | 06:17 PM
China is certain that Turkey will overcome its "temporary economic difficulties" that have been caused by the recent US decision to increase tariffs on imported Turkish metals, Chinese Foreign Ministry Spokesperson Lu Kang said on Friday.
BEIJING (UrduPoint News / Sputnik - 17th August, 2018) China is certain that Turkey will overcome its "temporary economic difficulties" that have been caused by the recent US decision to increase tariffs on imported Turkish metals, Chinese Foreign Ministry Spokesperson Lu Kang said on Friday.
The Turkish lira fell to its record low last week after US President Donald Trump authorized the doubling of steel and aluminum tariffs on Turkey, up to 50 and 20 percent, respectively. However, the Currency recovered six percentage points on Wednesday following Qatar's announcement that it would provide a $15 billion package of deposits and investment projects to the country.
"The Chinese side has paid attention to the recent events related to Turkey's economic and foreign policy relations. Turkey is an important developing market, Turkey's stability and development is favorable for regional peace and stability.
China is sure that Turkey is strong enough to overcome its temporary economic difficulties," Lu said in a statement.
He also expressed hope that the sides would settle their differences via dialogue.
"China has always paid attention to its cooperation with Turkey in trade, economic and financial areas, and it stands for cooperation between the two states in compliance with the market principles," the statement read.
Turkey has been in conflict with the United States over trade issues since March, when Trump initially introduced 10 and 25 percent duties on imports of aluminum and steel, respectively, from US trade partners, including Turkey. Ankara has called the tariffs unacceptable and pledged to take retaliatory measures.
Recent Stories
PITB HR Wing organizes Eid Milan celebration for children at PITB Day Care Cente ..
SONY x TECNO - is this for real?
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
More Stories From World
-
Blinken says US campus protests part of 'democracy'
15 minutes ago -
Vietnam National Assembly head resigns amid graft purge
35 minutes ago -
Team from Gaza mediator Egypt heads to Israel: source
55 minutes ago -
Xi tells Blinken US, China should be 'partners, not rivals'
56 minutes ago -
Ukraine agriculture minister freed on bail in corruption case
1 hour ago -
Vietnam National Assembly head resigns amid graft purge
1 hour ago
-
Calls for mosque demolition weigh on India's Muslim voters
1 hour ago -
Chinese shares close higher Friday
1 hour ago -
China's EV execs bullish on Western pressure at Beijing car show
2 hours ago -
EU toughens rules on fashion retailer Shein
2 hours ago -
Xi meets U.S. secretary of state in Beijing
2 hours ago -
Ukrainian minister detained over suspected corruption: prosecutors
2 hours ago