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China Announces Decision to No Longer Buy US Agricultural Products

Video Credit: Wibbitz Top Stories - Duration: 01:10s - Published
China Announces Decision to No Longer Buy US Agricultural Products

China Announces Decision to No Longer Buy US Agricultural Products

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.

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