Due to rising tensions between the two countries, China is reportedly suspending some purchases of U.S. farm products. The latest disagreement came after President Trump criticized China for assuming control of Hong Kong. “We will take action to revoke Hong Kong’s preferential treatment as a separate customs and travel territory from China,” said Trump. “Our actions will be strong; our actions will be meaningful.” Bloomberg News is reporting the Chinese government has ordered state-owned agricultural companies, COFCO and Sinograin, to suspend purchases of specific U.S. farm products. Soybeans and pork are being mentioned as one of those commodities that will be impacted. This clash is happening during the early stages of the phase one trade agreement between the U.S. and China.
