China Halts U.S. Agriculture Purchases as Trade War Heats Up

[Boxerfan]

Source: Bloomberg News

China is stepping away from further U.S. farm imports and said it doesn’t rule out more tariffs after President Donald Trump ratcheted up tensions with its 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. Also, privately run Chinese crushers that had received retaliatory-tariff waivers on American soybeans from Beijing have stopped buying the commodity due to uncertainty over trade relations, other people said.

Chinese buyers have turned to South American soybeans and the Asian nation said it doesn’t rule out for now taxing American agricultural goods that were traded after Aug. 3, the Commerce Ministry said in a statement on its website. The ministry also confirmed relevant Chinese firms have stopped purchasing American agricultural goods.

Read more: https://www.bloomberg.com/news/articles/2019-08-05/china-asked-state-buyers-to-halt-u-s-agriculture-imports

[Xipe Totec]

1. You move, Mr. Art of the Deal. nt

[MBS]

2. Way to go, stable genius.

All too obvious and predictable an outcome, for anyone except the Stable Genius.

[jpak]

3. So, how many billions of dollars in vote buying for farmers is this going to cost us?

[keithbvadu2]

4. Donald strikes back

[Wellstone ruled]

5. The last paraghaph

is interesting. There is supposed to be a large Bean order that is either on the Rails or in the Dock Silo's awaiting ships. If that gets scrubbed,the big Traders are going eat some serious dollars plus the Storage costs at eight bucks per thousand bushel which is typical going rate.

[patphil]

6. China plays hardball, Trump plays t-ball.

Trump is not respecting China. They will not do business with him under his conditions.