Trade war: Donald Trump tariffs to stay on Turkey; Qatar offers aid

After hitting a record low of 7.24 this week, the lira gained some support from Qatar's investment pledge and rose to 5.76 against the US currency

The US and Turkey remained locked in a stalemate that has jolted global markets, as the White House said new tariffs on Turkish goods would remain and Turkish President Recep Tayyip Erdogan received a financial lifeline from Qatar that should buy him time in the stand-off.

The Trump administration said Wednesday that Erdogan’s imposition of retaliatory tariffs against the US were “a step in the wrong direction.” In a sign the conflict is far from over, White House spokeswoman Sarah Sanders said US tariffs announced last week will stay in place regardless of whether an American pastor detained in Turkey