The US is the biggest destination for Turkish steel exports, at 11% of the Turkish export volume.
This is double the level the president imposed on a range of countries earlier this year, including European Union member states.
Since then, its relationship with Turkey, the sixth largest steel importer to the U.S., the world's biggest steel importer overall, has deteriorated, prompting Ankara to send a delegation this week to Washington to meet with both the State and Treasury Departments.
Turkish Lira to 2018 lost about 40%.
Erdogan on Friday appealed for calm and called on people to change foreign money into local lira. The weakened currency's value has helped increase inflation and anxious global investors.
The lira's plunge is one of the most serious economic crises that Erdogan has faced since coming to power in 2003 in the wake of a financial crisis in 2001 that brought the economy to near meltdown.
"Some close the doors and some others open new ones", said Mr Erdogan, who has built closer ties over the last years with countries from Latin America, Africa to Asia.
Meanwhile, markets are deeply concerned over the direction of economic policy under President Recep Tayyip Erdogan, with inflation at almost 16%, but the central bank reluctant to raise rates in response.
"The country is neither crumbling, nor being destroyed or bankrupt or in a crisis", he said, and added that the way out of the "currency plot" was to boost production and "minimise interest rates". But Mr Erdogan indicated he was in no mood to offer concessions to the United States, or financial markets.
"We will respond to those who declared trade war on the entire world and included Turkey in it, by steering towards new alliances, new markets", he said, raising questions in the future partnership between Ankara and Washington.
First match of series will be England’s 1000th Test
But Mohammad Azharuddin, the India batting great, believes everything is now in place for Kohli to have a successful series. In the past five years, India have won just one of their six Test series outside of Asia, against a struggling West Indies.
The White House said the new sanctions would take effect from August 13.
One of the hard issues affecting U.S.
And the Brunson case is just one of many bones of contention between Turkey and the United States, ranging from Syria to Ankara's increasingly cosy relationship with Moscow.
Brunson could face 35 years in jail if found guilty of the charges.
After nearly 20 months in a Turkish jail, Mr Brunson was moved to house arrest last month by a court.
Tensions have risen between the two North Atlantic Treaty Organisation allies over Ankara's detention of an evangelical pastor alongside other diplomatic issues.
Not everyone shares the President's optimism as main opposition Republican People's Party (CHP) leader, Kemal Kilicdaroglu, said ill-considered government policies meant Turkey had to borrow to pay off the interest on existing debt.
Erdogan noted that his country would turn to other partners if this "economic war" goes on. These include places "from Iran, to Russian Federation, to China and some European countries", he said.
The sides held talks in Washington this week but failed to resolve the spat.
In the New York Times article, Erdogan said: "Attempting to force my government to intervene in the judicial process is not in line with our Constitution or our shared democratic values".
This story is based in part on wire service reports. Mario Ritter was the editor. "We were together with you [U.S] in Afghanistan, Somalia and Bosnia".