6/3, 9:08 PM (Source: TeleTrader)
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China cancels part of US farm products purchases - report

China canceled some purchases of American farm products, the Wall Street Journal reported on Wednesday, citing Chinese shipping officials.

"A handful of shipments of livestock feed, corn, pork, cotton, and some meat imports are pushed back," Chinese shipping executive said, adding that the move involved Chinese state-controlled companies, while private exporters are not part of it.

The cancellation of imports includes orders made after phase one of the trade pact between the two countries signed in January. Under the trade deal, China pledged to spend $200 billion more on US goods compared to 2017 levels and to import no less than $12.5 billion worth of agricultural goods in 2020 and $19.5 billion in 2021.

Breaking the News / SR