"We have put sanctions on several of their cabinet members", said Mnuchin.
The White House said on Wednesday that it would not remove steel tariffs on Turkey, appearing to give Ankara little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges.
In remarks at Thursday's Cabinet meeting, Trump voiced his disappointment with Turkey in personal terms, saying the country has "not proven to be a good friend".
"It nearly seems as if Trump's words were an invitation for there to be even more of an entrenchment of this dispute", said Al Jazeera's Sonia Gallego, reporting from Turkey's largest city of Istanbul.
While Turkey's economy is fairly unimportant globally, the country itself holds an important strategic position as a buffer zone between the West and the Middle East, and as such has outsized influence in foreign policy circles.
Trump revokes security clearance of former Central Intelligence Agency director John Brennan
If there were others that weren't, that we deemed necessary, we would certainly take a look and review those as well", Ms. Devin Nunes (R-Calif.) that the dossier was used to inform the assessment, according to Real Clear Investigations .
Analysts also said the political cost of the investment remained to be seen, given that Qatar is also a United States ally and dependent on Washington for both military and political protection.
The lira has lost almost 40 percent of its value against the dollar this year, sparking a sell-off in emerging market currencies and weighing on global stocks.
US and Turkey relations have been souring, after President Trump doubled tariffs on Turkish steel and aluminum in response to his continued imprisonment. He did not elaborate on what measures the U.S. is willing to take if Turkey continues to play hardball over Brunson.
"The tariffs that the United States placed on Turkey were out of national security interests". The lira's sharp decline has sparked fears in the worldwide community of a Turkish economic crisis. On Monday the lira hit a record low of 7.2, dragging down other emerging markets currencies. On Aug. 14, he said Turkey would boycott US electronic products.
At 1612 GMT the currency TRYTOM=D3 stood at 6.0700 to the dollar, almost 5 percent weaker.
Although they share a last name, Gazi is not related to Berat Albayrak, Ankara's current Finance Minister and the Turkish President's son-in-law who has been facing mounting criticism online over the unfolding financial crisis.