"We have closed the chapter of the IMF credits in order not to open it anymore," Turkish President Recep Tayyip Erdogan said on Sunday addressing the activists of Turkey's ruling Justice and Development Party in the town of Kizilcahamam.
Another wave of tensions between the two countries occurred following the decision of US President Donald Trump to authorize the doubling of previously imposed import tariffs on Turkish aluminum and steel to 20 percent and 50 percent, respectively. The US move resulted in the Turkish lira hitting a historic low.
In response to the US decision, Turkey 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.