Report Notes China Halting U.S. Agricultural Purchases

Dan Economy, Exports/Imports


According to Bloomberg News, China has announced they are stepping away from further U.S. farm imports after President Trump increased tensions with the U.S. biggest agricultural trading partner last week.

The Chinese government has asked its state-owned enterprises to suspend purchases of U.S. agricultural products, people familiar with the situation said. Trump last week proposed adding 10% tariffs on another $300 billion in Chinese imports from Sept. 1, abruptly ramping up the trade war between the two countries soon after the two sides had restarted talks.

So according to the article, China’s state-run agricultural firms have now stopped buying American farm goods, and are waiting to see how talks progress. To read more of this story click here.