China suspended US purchases of agricultural products in the face of growing tensions between the two countries, the Bloomberg news agency reported online. The Chinese government has asked state-owned companies to halt their purchases of American agricultural products. What's more, the nation's soybean crushers that were free from oilseeds and American oleaginous seeds also stopped buying in the face of uncertainty about the future of the conflict.
The measure approaches what appears to be the beginning of a war now also monetary, with the Asian nation deciding to respond to Donald Trump's latest move in a different way this time. For the first time in more than ten years, it allowed the yuan to break the 7 per dollar mark at its lowest level in this range. The movement, according to experts, intensifies the trade war and overcomes with increases the latest accusation by the President of the United States of “monetary manipulation” by the Asian nation.
Message: Marina Carvejani
Author: Agricultural News
Source: Agricultural News
