But Erdogan may have to restrain himself, as the last thing Turkey's already-troubled economy needs is another blow.
"You can't make Turkey step back with sanctions," Erdogan was quoted as telling reporters during a visit to South Africa. "If the U.S. does not change its stance, it should not forget that it will lose a strong and sincere partner."
Trump floated the potential sanctions Thursday over Turkey's ongoing detention of American evangelical pastor Andrew Brunson, who was arrested in 2016 on charges of being involved in the failed military coup to oust Erdogan. Brunson has consistently denied the charges.
While he didn't offer details of what any sanctions might entail, Trump's threat alone was a source of concern for both investors and the Turkish government, which have been witnessing the downward spiral of an increasingly battered economy.
Last week, the Turkish lira plunged around 4 percent after the country's central bank failed to raise interest rates despite soaring inflation. The decision deepened market fears that the bank was not independent from Erdogan, who has railed against rate raises in favor of faster economic growth.