The two North Atlantic Treaty Organisation allies are at an impasse regarding the detention of an American pastor, differing views on Syria, and Turkey's purchase of Russian military equipment. A Trump tweet on Friday announcing a doubling of aluminium and steel tariffs for Turkey triggered the rout in the currency markets.
Turkey's finance minister sparked a recovery in the lira after he addressed thousands of global investors, pledging to protect beleaguered local banks and cut public spending to prevent the country defaulting on its loans.
The lira, which earlier this week traded at well over seven to the dollar, held onto its gains during Albayrak's discussion, trading at 5.7 against the greenback.
"Turkey will emerge stronger from these (currency) fluctuations", Albayrak told the conference.
"We don't like those who don't like us", said Rifat Tepe, an electronic goods seller in Istanbul who said he will heed a call by President Recep Tayyip Erdogan to stop selling American electronic products.
However, in a potential complication, a foreign ministry source in Berlin said Turkish police had arrested a German citizen.
The U.S. Department of Treasury sanctioned Turkey's Minister of Justice Abdulhamit Gul and Minister of Interior Suleyman Soylu in early August over their roles in Brunson's detention.
Erdogan has moved to shore up alliances in Europe and the Middle East, easing pressure on the battered lira, as the standoff with the USA has deepened.
Ankara's first batch of tariffs hit $1.8 billion in USA products.
Doubts about Turkey's future intensified as relations with the United States, a longtime North Atlantic Treaty Organisation ally, soured.
Vice President Fuat Oktay tweeted that the new tariffs were retaliation for "the deliberate attack of the US administration on our economy", CNN said.
Ankara's latest move follows President TrumpDonald John TrumpDems make history, and other takeaways from Tuesday's primaries Pawlenty loses comeback bid in Minnesota Establishment-backed Vukmir wins Wisconsin GOP Senate primary MORE's announcement last week that he will double tariffs on imports of steel and aluminum from Turkey until it releases USA pastor Andrew Brunson, who was arrested in 2016.
Turkey's foreign minister said Ankara did not want any problems with Washington.
Erdogan on Tuesday said Turkey would boycott U.S. electronic goods like iPhones, even though he has himself been photographed repeatedly using the product himself.