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Chinese Ordered to Buy in US | Israel Today

2020-06-04T06:08:23.160Z


| economyCommunist administration in Beijing has announced private companies in the country to cease large-scale purchase of agricultural goods from the US • This is a violation of the 2016 trade agreement Chinese President Xi and Trump // Photo: Reuters China breaks the trade agreement with the US. According to Reuters, the communist government in Beijing has informed private companies in the country t...


Communist administration in Beijing has announced private companies in the country to cease large-scale purchase of agricultural goods from the US • This is a violation of the 2016 trade agreement

  • Chinese President Xi and Trump // Photo: Reuters

China breaks the trade agreement with the US. According to Reuters, the communist government in Beijing has informed private companies in the country to cease large-scale purchase of agricultural commodities from the US - mainly soybeans and pork.

In an agreement signed in January, China pledged to purchase US $ 200 billion worth of goods by the end of 2021, about a quarter of which were U.S. farmers. . At the same time, Americans have reduced the burden of tariffs on imports from China, but have left tariffs on goods worth $ 380 billion.

It is estimated that the Chinese decision is due to a combination of outrage over the new sanctions imposed by the US government on China due to the repression of the Hong Kong riots, to relatively low consumption of bran in China due to the Corona crisis. About a month ago, Trump predicted that China might not respect the trade agreement due to increased tensions over the Corona. The Chinese have also recently challenged the president, critically addressing the raging riots in the US, against the backdrop of US condemnation of China's Hong Kong operations.

Despite tensions with China and the violent riots, Wall Street recorded gains in the early hours of trading yesterday, and the Dow Jones improved its price by 0.8 percent. Oil recorded another rise and traded at $ 36 a barrel. The increases are mainly explained by the $ 600 billion injection by the government into the markets.

The Tel Aviv Stock Exchange also saw slight increases of up to 0.27% in the various indices. In May, trading was down, and TA 35 and TA 90 fell 0.7% and 2.7%, respectively. A mixed trend characterized the industry indices, and the declines led to oil and gas stocks and overseas real estate stocks.

Source: israelhayom

All news articles on 2020-06-04

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