China Announces Decision to No Longer Buy US Agricultural Products
- 5 years ago
China Announces Decision to No
Longer Buy US Agricultural Products.
China’s decision to completely stop purchasing
American agricultural products was made on
August 6 by the Chinese Commerce Ministry.
It is specifically in response to president Trump’s
recent decision to institute a 10 percent tariff
on $300 billion worth of Chinese goods.
as well as Treasury Secretary
Steven Mnuchin’s recent labelling
of China as a “currency manipulator.”.
The move to halt importation can also be
seen as a political tactic, as Trump draws a
large portion of his support from rural America.
China’s announcement that it will not buy any
agricultural products from the United States
is a body blow to thousands of farmers and
ranchers who are already struggling to get by, Zippy Duvall, President of the American
Farm Bureau Federation, via statement .
China has been the largest importer of American
soybeans and the top-three importer of pork. .
Overall, they are the fourth-largest
importer of American agricultural products,
having spent $9.1 billion in 2018.
Longer Buy US Agricultural Products.
China’s decision to completely stop purchasing
American agricultural products was made on
August 6 by the Chinese Commerce Ministry.
It is specifically in response to president Trump’s
recent decision to institute a 10 percent tariff
on $300 billion worth of Chinese goods.
as well as Treasury Secretary
Steven Mnuchin’s recent labelling
of China as a “currency manipulator.”.
The move to halt importation can also be
seen as a political tactic, as Trump draws a
large portion of his support from rural America.
China’s announcement that it will not buy any
agricultural products from the United States
is a body blow to thousands of farmers and
ranchers who are already struggling to get by, Zippy Duvall, President of the American
Farm Bureau Federation, via statement .
China has been the largest importer of American
soybeans and the top-three importer of pork. .
Overall, they are the fourth-largest
importer of American agricultural products,
having spent $9.1 billion in 2018.