The U.S. consumer price inflation (CPI) report for July is expected to show inflation likely increased 0.2 percent, after rising 0.1 percent in June. Aluminum will now be 20% and Steel 50%.
This is double the level the president imposed on a range of countries earlier this year, including European Union member states.
The greenback has been boosted by growing global trade tensions and strained geopolitical relationships, with the United States this week saying it would impose fresh sanctions on Moscow.
"It is hard to imagine how the United States and Turkey fix their relationship, which was already faltering, after this episode", Mr Cook told The National. "Repeated efforts to communicate to the United States administration that none of the stated criteria driving America's tariffs are applicable to Turkey have thus far proven fruitless", he said.
The lira extended its losses to trade at 6.2 to the dollar, a loss of 11.5 percent on Friday.
Meanwhile, the U.S. data had little impact, despite coming it at a decade high while continuing the acceleration seen so far this year - CPI rose 0.2% in July, for an annual gain of 2.9% while the core version rose 0.24% in July and 2.4% annually (vs 2.3% expected).
The lira plunged as much as 14 per cent on Friday, as worries about Erdogan's influence over monetary policy and worsening USA relations snowballed into a market panic. The weakened currency's value has helped increase inflation and anxious worldwide investors.
Erdogan, a self-described "enemy of interest rates", wants cheap credit from banks to fuel growth, but investors fear the economy is overheating and could be set for a hard landing.
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His characteristic defiance has further unnerved investors.
His comments on interest rates - and his recent appointment of his son-in-law as finance minister - have heightened perceptions that the central bank is not independent.
"This could be the most expensive pastor in world history", Sekulow said, referring to the harm being done to Turkey's economy.
"This will be the response to those who have declared an economic war".
On Friday, Erdogan asked Turkish citizens to sell off their gold and dollars and exchange them for the lira, in an attempt to prop up the currency.
People change money at a currency exchange office in Istanbul, Turkey, Aug. 10, 2018.
"Our relations with Turkey are not good at this time!", the President tweeted.
"Dollar/yen is bound in range, with caution toward the U.S. -Japan trade talks capping the pair's upside, but it is also seeing downside support before the U.S. CPI release", said Imaizumi at Daiwa.
Brunson's charges include spying for the PKK - listed as a terrorist group by both the US and Turkey - and the Fetullah Terrorist Organization (FETO), the group behind the defeated coup attempt in Turkey of July 2016.
Turkey has detained Mr Brunson for almost two years, accusing him of links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for a failed coup in 2016.