“Turkish economy’s structure is solid, nobody should trust speculative news and actions,” he wrote on his official Twitter account.

Kalin added that Turkey’s Treasury and Finance Ministry, the Central Bank, the Banking Regulatory and Supervision Agency, the Capital Markets Board and other institutions are taking steps for financial stability.

Turkey will come out stronger from this process,” Kalin added.

His remarks came after Trump ramped up his attack on Turkey by raising U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.

Turkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.

Anadolu Agency