China Appears Ready to Halt U.S. Agricultural Purchases

BEIJING, CHINA – Reuters is reporting that China will be halting purchases of soybeans and pork from the U.S. after President Trump announced Friday the elimination of special treatment for Hong Kong. According to the unnamed sources, China will also pause purchases of corn and cotton from the United States. Trump announced the change in policy following a crackdown by the Chinese government in Hong Kong, despite earlier commitments to maintain “two systems” but one government. The report says China could also expand its order to include additional commodities from the United States. USDA recently reported increased purchases by China for the first three months of the year, including $1.7 billion worth of pork and soybeans.
(SOURCE: Reuters)