China Devalues Its Currency, Halts Purchases of U.S. Agricultural Products, and Threatens Additional Tariffs on U.S. Goods

China-Devalues-Its-Currency-Halts-Purchases-of-U.S.-Agricultural-Products

Yesterday, China’s Ministry of Commerce suspended purchases of U.S. agricultural products, lowered the value of its currency and indicated that it may impose import tariffs on U.S. agricultural products. China’s escalation of the trade conflict with the United States is in response to the Trump Administration’s announcement last week that 10% tariffs would be imposed […]