The Chinese authorities have ordered to suspend the import of American agricultural products.
The company has already stopped the import and now expect, how to move trade negotiations between the two countries. About it reports Bloomberg with reference to sources.
The decision of Beijing followed by the statement of American President Donald trump, who on 1 August announced the intention to introduce a 10% duty on the remaining Chinese imports, which is estimated at $ 300 billion.
“China refuses to softer diplomatic strategy in the trade war and doesn’t want to be a “punching bag” for the United States. Trump’s threats to impose new trade tariffs only exacerbate the situation and lead to a full-scale trade war,” said analysts in the company Maybank Kim Eng Research Pte.
China allowed the exchange rate of its national currency to fall to its lowest level in 10 years. At the opening of trading on Monday, August 5, it amounted to 7.02 yuan per dollar for the first time since 2008.