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China suspends purchases of US farm products in retaliation for planned new US tariffs

( August 6, 2019, 02:38 GMT | Official Statement) -- MLex Summary: The Customs Tariff Commission of China’s State Council will no longer exempt US agricultural products purchased after Aug. 3 from additional tariffs, and Chinese companies have suspended their purchases of US farm products, given that the US government plans to impose 10 percent tariffs on $300 billion of Chinese imports, which severely violated the consensus reached by leaders of the two countries in Osaka, according to a statement by China’s Ministry of Commerce today. US President Donald Trump on Aug. 1 tweeted his intention to impose the tariffs starting Sept. 1.Mofcom’s statement follows:...

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