Agricultural product purchase procedure with the United States for the time being
In response to the US Trump administration's announcement that it will trigger additional tariffs on imported goods from China starting on the 1st of next month, China's state media will purchase agricultural products that Chinese companies have been working with the US side. Announced that for the time being, the procedure will be postponed.
President Trump was dissatisfied with the fact that China did not do it despite China's agreement to buy a large amount of agricultural products from the United States last week at the summit of the US and China. Announced a policy of adding a 10% tariff on $ 100 million of imported goods.
In response, Chinese officials have signed a contract to purchase 14 million tons of soybeans through state-run media on the night of the 5th, and are proceeding with procedures for importing new agricultural products such as wheat and pork. I explained.
However, early in the morning of 6th, Xinhua News Agency, a Chinese state-run company, reported that for the time being, Chinese companies have postponed the purchase of American agricultural products.
The press reports that the US should steadily implement the agreement after criticizing that the additional tariff measures by the United States are contrary to the agreement of the previous US-China summit.
While President Trump is increasingly criticizing China's negotiating stance, this response is likely to be part of China's counter-measures, and the trade between the two countries will be even more intense before the US launches additional tariffs next month.