Chinese firms suspend purchases of US farm products: Xinhua



Chinese companies have suspended purchases of U.S. farm products as a retaliatory measure against U.S. President Donald Trump's plan to raise tariffs further on Chinese imports, state-run Xinhua News Agency said Tuesday.To get more china news in english, you can visit shine news official website.
The report came after Trump decided last week to levy 10 percent tariffs on an additional $300 billion worth of imports from China after Beijing allegedly failed to make good on its promise to buy large quantities of U.S. agricultural products.

Another tariff hike is "a serious violation of the consensus reached between the two heads of state," the Chinese government was quoted by Xinhua as saying.

In May, the Office of the U.S. Trade Representative released a list of around 3,800 Chinese products -- including iPhones and laptop computers -- that would be subject to the proposed fourth round of additional tariffs.

After a summit with Chinese President Xi Jinping on the sidelines of a Group of 20 summit in late June in Osaka, western Japan, Trump said the United States would forgo the imposition of the fourth round of tariffs and that the two sides had agreed to continue talks.

At their ministerial-level talks in Shanghai late last month, the governments of the world's two biggest economies agreed to hold the next round of trade talks in September in the United States, but neither side has shown much willingness to make concessions.

Washington has put pressure on Beijing to curb China's massive trade surplus with the United States and rectify its alleged unfair trade practices involving intellectual property theft and forced technology transfer.

So far, Washington has imposed 25 percent levies on a total of $250 billion worth of Chinese imports, while Beijing has retaliated by taxing $110 billion worth of goods from the United States.




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