Economics
Turkey Clings to Trump Bump as Clock Ticks Over Russian Missiles
U.S. President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House.
Photographer: Sarah Silbiger/BloombergThis article is for subscribers only.
Donald Trump’s recent act as the good cop of Turkey’s markets is drowning out President Recep Tayyip Erdogan’s stunning dismissal of the central bank governor over the weekend.
With a sophisticated Russian missile-defense system arriving in Turkey as early as this week, the U.S. leader’s suggestion that he may spare it the worst of sanctions is helping prop up the country’s market after Erdogan’s latest assault on monetary policy making. Without a reprieve from Trump, the deal with Moscow could trigger penalties that include options some American officials believe would all but cripple the Turkish economy.