China responds to US and suspends US agricultural purchases

China has suspended US purchases of agricultural products in the face of rising tensions between the two countries, Bloomberg news agency reported Monday. The Chinese government has asked state companies to stop their purchases of US agricultural products.More than that, the nation's soybean crushers that were exempt from US oilseed tariffs also stopped buying in the face of uncertainty about the future of the conflict. 

The move comes close to what appears to be the beginning of a now also currency war, with the Asian nation resolving to respond to Donald Trump's latest move differently this time. For the first time in more than ten years, it allowed the yuan to break the 7 per dollar mark to its lowest level in this range.The movement, according to experts, intensifies the trade war and more than meets the US President's latest accusation of "currency manipulation" by the Asian nation. 

Post: Marina Carvejani
Author: Notícias Agrícolas
Source: Noticias Agricolas