Erdogan pledges return to low policy rates in Turkey

Erdogan pledges return to low policy rates in Turkey

Turkish President Tayyip Erdogan said on Thursday he did not expect the United States to impose sanctions on Turkey over its planned purchase of a Russian missile defense system, but would retaliate if it did.

"We, as Turkey, will follow this issue and do everything possible for Egypt to be tried in worldwide courts for Morsi's death", he was quoted as saying by Dawn, calling on the Organisation of Islamic Cooperation (OIC) to take action towards this end.

Previously, the Turkish President said that Turkey may receive the S-400 missile systems in July 2019, which is earlier than scheduled. Turkey, for its part, condemned the document, saying that it questioned the mutual trust between the nations.

He said he would discuss the issue with Trump at the G20 summit in Japan at the end of June, and that the problem was largely with other U.S. officials.

Turkey plans to buy 100 U.S. F-35s and its defence industry has ploughed significant sums for the manufacture of the warplanes.

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Erdoğan warned the United States should "think very carefully" before imposing sanctions and would face retaliation if it does, Reuters reported on Thursday.

He denied that Washington offered Turkey an "appropriate" deal that would allow it to purchase U.S. Patriot systems instead.

Turkey faces expulsion from the F-35 program, which would cost Turkish Aerospace Industry (TAI) and other companies well-paying orders, but the sanctions could be extended to other Turkish companies that produce components for USA firms.

Erdogan dismissed the USA argument and said Turkish military experts were good at deciding what to purchase. "I am sure that the United States will be very careful when it takes such a step, when considering that our strategic partnership goes back decades", he added. He stressed that despite appeals from the US, Turkey will not abandon the purchase of the S-400. The U.S. views Turkey's grievances much differently.