China Suspends Purchases of U.S. Agricultural Products

Due to the escalating trade war, China is suspending buying U.S. agricultural products.

A spokesman for the Chinese Ministry of Commerce says it’s because of Washington’s plan to impose new 10% tariffs on $300 billion worth of Chinese goods on September 1st.

He also noted that they are not ruling out tariffs on recently purchased crops.

Source: https://www.cnbc.com/2019/08/05/china-confirms-it-is-suspending-agricultural-product-purchases-in-response-to-trumps-new-tariffs.html

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