This is the latest escalation of trade disputes between China and the United States. Earlier, on Monday, China allowed the renminbi to fall below the key level of 7 yuan to 1 dollar for the first time in more than 10 years.
Trump said on Thursday that Beijing had failed to fulfil its commitment to buy large quantities of U.S. agricultural products and vowed to impose tariffs on the remaining 300 billion U.S. dollars of Chinese imports, abruptly ending the trade truce between China and the United States.
CCTV on Monday helped trigger a report by an official of the Reform Commission that the United States called China's failure to buy American agricultural products "groundless accusation".
China is the world's largest buyer of soybeans, the most valuable export crop in the United States. The Trump Administration announced a $28 billion plan to compensate American farmers for trade disputes. American farmers are important supporters of Trump.
"Chinese companies have suspended purchasing American agricultural products." China's Ministry of Commerce said in an online statement released in Beijing shortly after midnight Tuesday.
The statement pointed out that "it is hoped that the US side will earnestly implement the consensus reached at the meeting between the two heads of state in Osaka, be trustworthy in its words and fulfill its commitments, and create the necessary conditions for cooperation in the agricultural field between the two countries."
Hot Model No.: