China Halts Purchases Of US Agricultural Products

Reuters reports:

China has halted its purchases of U.S. agricultural products and will not rule out levying import tariffs on American farm imports purchased after Aug. 3, the Chinese Commerce Ministry said early on Tuesday.

The moves by China represent the latest escalation in its trade row with the United States that has unnerved global markets and investors.

“Related Chinese companies have suspended purchases of U.S. agricultural products,” China’s Ministry of Commerce said in an online statement posted shortly after midnight in Beijing on Tuesday.