Brunson, an evangelical preacher from North Carolina, is now under house arrest in Izmir.
Brunson has been detained in Turkey for nearly two years for his alleged involvement in a failed coup against Erdogan's regime. "We will produce, consume to our heart's content, and then export to the world".
US Treasury Secretary Steven Mnuchin said on Thursday that the United States was ready to place further economic sanctions on Turkey if detained American pastor Andrew Brunson is not released.
Turkey, meanwhile, has been busy seeking other alliances, including with China, Russia, Iran, and a wide range of other emerging countries, all of which Ankara sees as potential substitutes for its deteriorating relationship with the USA and North Atlantic Treaty Organisation. Last year, it was reported the Eye received funding from Qatar, though it has denied this.
A Turkish court once again rejected an appeal for Brunson's release on Wednesday. His transfer to house arrest came after Trump asked Israeli Prime Minister Benjamin Netanyahu to assist in Brunson's release, Israeli and USA officials told CNN at the time.
Qatar defied US President Donald Trump on Wednesday and promised to plough $15 billion into Turkish financial markets and banks.
In addition to its decision to ramp up tariffs on imports of Turkish steel and aluminium, the Trump administration imposed sanctions on two top officials in Erdogan's cabinet earlier this month as part of its efforts to pressure Ankara into freeing Brunson.
He added that Qatar is investing and not injecting cash, while Turkey's problem remains the high level of debts and Erdogan's interference in monetary policies which is under the central bank jurisdiction, in addition to his refusal to raise interest rates.
Pastor Andrew Brunson's fate is important to evangelical voters in the looming midterm elections in November, so Washington may impose more sanctions on allied Ankara, a former Turkish envoy to the United States says.
"We have put sanctions on several of their cabinet members", Mnuchin told President Donald Trump in a cabinet meeting attended by the press.
Whatever action the United States does take, economists said it looked likely to cause more pain for Turkish assets in the immediate future.
Mr. Trump wrote in a tweet late Thursday: "We will pay nothing for the release of an innocent man, but we are cutting back on Turkey!" "So the Brunson case is important not just as a US-Turkey issue but also in terms of its impact on US domestic politics". Brunson's next hearing is scheduled for October 12. "If they back the American position on Turkey tariff penalties, then they lose Turkey".