In response to Washington tariffs decision on goods exportation, China has instructed its companies to halt the purchase of farm products from the United State.
This was made known by the Chinese Ministry of Commerce in a statement.
According to the Chinese Ministry of Commerce, ‘Beijing would not rule out hiking imports duties on farm products dating back to August 3.’
The Chinese ministry called the latest tariffs a “serious violation” in the ongoing trade war between the world’s two largest economies.
-US Tariff Hike-
U.S. President Donald Trump on Thursday announced he would hike tariffs on 300 billion dollars’ worth of Chinese goods to 10 per cent from Sept. 1.
The tariffs are to come on top of the 25-per-cent levies already imposed over the past year on 250 billion dollars’ worth of Chinese products.
When they take effect, all Chinese goods coming into the U.S. will be subject to punitive tariffs.