The lira tumbled as much as 20 percent on Friday, its biggest one-day drop since 2001.
The dollar index, which measures the greenback's strength against a group of six major currencies, was up 0.05 percent at 95.550 after gaining 0.5 percent overnight. Minutes before Ankara learned about the higher tariffs, the lira had already hit an all-time low of 6.87 against the dollar. This will be my people's response to those who have waged an economic war against us'.
In this file photo taken on July 11, 2018, US President Donald Trump (L) speaks with Turkey's President Recep Tayyip Erdogan (R) as they arrive for a North Atlantic Treaty Organisation summit at North Atlantic Treaty Organisation headquarters in Brussels.
"If the USA is turning its back on us.choosing a pastor instead, sorry.we continue our path with decisive steps", Erdogan said, as quoted by Reuters. "He has done nothing wrong, and his family needs him!"
Erdogan said during an address to supporters: "Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks".
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The news comes as tensions between the United States and Turkey continue to grow over the North Atlantic Treaty Organisation ally's continued detainment of Pastor Andrew Brunson.
"Also completely underestimated is Turkey's capacity to effectively shut down everything that happens in Brussels if they want to, because Brussels works on consensus and nothing, literally nothing happens without consensus", he said.
"Those who can't compete with us on the ground have brought online fictional currency plots that have nothing to with the realities of our country, production and real economy", Erdogan told a provincial meeting of his AK Party in the Black Sea coastal town of Rize.
Officials from Mr Erdogan's office said the two men "expressed pleasure" that relations between Turkey and Russian Federation were progressing "positively" amid joint defence and energy projects.
Trump last month threatened to slap "large sanctions" on Turkey if it did not release American pastor Andrew Brunson, who faces charges of espionage for allegedly supporting a failed coup attempt in 2016.
Donald Trump said Friday his administration had doubled steel and aluminum tariffs on Turkey, imposing a 20 percent duty on aluminum and a 50 percent levy on steel.
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Constables Eric Dubois and Darlene Goguen were also injured when Bourque went hunting police officers in a Moncton neighbourhood. Donavan said police did not contact her but she heard from someone else by noon that the lockdown had been lifted.
"Before it is too late, Washington must give up the misguided notion that our relationship can be asymmetrical and come to terms with the fact that Turkey has alternatives".
On Thursday, Mr Erdogan said: "If they have their dollar, we have the people, we have Allah". "Look at what we were 16 years ago and look at us now", he said.
"The US and Turkey are breaking up". It is host to a critical part of the Western alliance's missile defense system again Iran.
Some US officials say Turkey is holding Brunson as a bargaining chip after an executive at Turkey's state-owned Halkbank was convicted and imprisoned in the United States in May for helping Iran evade US sanctions.
After nearly 20 months in a Turkish jail, Brunson was moved to house arrest in July by a court. "This is Turkey", he said. "The tweet is mightier than the Turkish sword", Cristian Maggio, head of emerging markets strategy at TD Securities, said in a note to clients.
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