"We are launching local manufacturing of priority product groups, whose imports total at least $30 billion. Development agencies will assist 1,500 projects by allocating 500 million liras [$83 million] to them and additional 100 million liras [$17 million] to support platforms for technology development," Varank said as quoted by the Anadolu news agency.
Washington's move resulted in the Turkish lira hitting a historic low. The Turkish lira, though, strengthened on Wednesday and Thursday after media reports about Qatar's intention to invest in the Turkish economy $15 billion.
Turkey in response to the US decision increased tariffs on 22 types of US goods worth $533 million. In particular, the country introduced higher levies on US cars, alcohol, fruit, cosmetics and tobacco.