In a decision announced in the Official Gazette, Ankara said it will impose extra tariffs on imports of products including rice, vehicles, alcohol, coal and cosmetics.
"Tax rates on imports of some products have been increased on a reciprocal basis against the US administration's deliberate attacks on our economy", Vice President Fuat Oktay said later on his official Twitter account.
The row with Washington has helped drive the lira to record lows, with the currency losing more than 40 per cent of its value against the dollar this year, prompting central bank liquidity moves to support it.
President Recep Tayyip Erdogan, who has accused the United States of bullying behavior and economic sabotage, vowed on Tuesday to boycott US -made electronic goods, including Apple's signature iPhone.
The investment package was announced after Qatar's Emir Tamim bin Hamad Al-Thani met President Tayyip Erdogan in the capital, as Turkey grapples with a collapsing lira and a worsening commercial and political standoff with North Atlantic Treaty Organisation ally the United States.
The Turkish lira continues to rapidly depreciate in value against the US dollar after the Trump administration announced it was doubling tariffs on Turkish steel and aluminum last week. It was unclear how he planned to enforce such a boycott. "We have other partners and alternative markets".
Erdogan has called on Turks to exchange their dollars for lira in order to shore up the domestic currency.
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He said: "Erdogan has not shown any sign of backing down and going to a more orthodox policy and if things get worse with the Turkish Lira there will be an increase in non-performing loans and you are going to have a blow through to the European banking system".
The Turkish national currency, the lira, has been plunging as Washington doubled its tariffs on aluminum and steel imports from the country to 20 and 50 percent, respectively. The Turkish leader even used Apple's FaceTime to appeal to his supporters during the 2016 military coup.
United States sanctions against two Turkish ministers have sent the lira spiralling against the dollar, threatening a debt payment crisis for Turkish banks which have taken out billions in foreign currency loans. U.S. officials say National Security adviser John Bolton had met with the Turkish ambassador to Washington on Monday.
Mr Erdogan said the United States "operation" was created to "force Turkey to surrender in every field from finance to politics".
"We will produce every product we are importing from overseas with foreign currency here and we will be the ones exporting these products", he said. But neither side has backed down, with Erdogan invoking Turkey's past of supporting the USA in times of need, including America's war in Afghanistan.
The Trump administration punished Turkey with economic sanctions and traffic hikes over the detention of an American Christian pastor standing trial on disputed terrorism charges.
Hurriyet newspaper said the court in Izmir rejected the appeal, but that a higher court would review the appeal.