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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (1155018)	8/5/2019 8:07:59 PM
From: sylvester80	Read Replies (1) \| Respond to of 1576870

BOOM! Chinese companies halt purchases of US agricultural products... SOCIALIZE US FARMERS COMRADE POS tRump... By Steven Jiang, CNN Business Updated 7:08 PM ET, Mon August 5, 2019 cnn.com Global markets rocked by escalating trade fights Economist: New China tariffs will hurt US consumers US adds 164,000 jobs in July, unemployment rate unchanged Japan escalates trade war with South Korea The formula of the 'Furious' Trump's tweet on tariffs catches Wall Street by surprise FDIC says it is monitoring trade war impact on farm loans This deaf 13-year-old girl signed to a professional esports team Federal Reserve announces rate cut NOW PLAYING Trump official: Farmers one of the casualties of trade war Stocks plunge after China devalues its currency 8chan goes offline after Cloudflare pulls support Walmart faces pressure to stop selling guns ADL says 8chan is the septic tank of the internet The growing threat of online radicalization Hong Kong protests cancel over 100 flights Fake meat is the future. Here's why Global markets rocked by escalating trade fights Economist: New China tariffs will hurt US consumers US adds 164,000 jobs in July, unemployment rate unchanged Japan escalates trade war with South Korea The formula of the 'Furious' Trump's tweet on tariffs catches Wall Street by surprise FDIC says it is monitoring trade war impact on farm loans This deaf 13-year-old girl signed to a professional esports team Federal Reserve announces rate cut Trump official: Farmers one of the casualties of trade war Stocks plunge after China devalues its currency 8chan goes offline after Cloudflare pulls support Walmart faces pressure to stop selling guns ADL says 8chan is the septic tank of the internet The growing threat of online radicalization Hong Kong protests cancel over 100 flights Fake meat is the future. Here's why Global markets rocked by escalating trade fights Beijing (CNN Business)Chinese companies have halted purchases of US agricultural products, marking the latest escalation of the trade war between the United States and China. Trump is playing a dangerous game with America's economy The halt in purchases comes in response to the Trump administration's announcement of new tariffs on Chinese imports last week, China's Commerce Ministry said Tuesday morning. The new 10% tariffs on $300 billion worth of Chinese imports are set to take effect on September 1. China's Commerce Ministry called the new tariffs a "serious violation of the consensus reached by the two countries' leaders in Osaka." At the June G20 meeting in Osaka, American and Chinese officials had agreed to a cease-fire in the trade war. State media had earlier quoted officials as saying Chinese companies had ordered US agricultural products after the Osaka summit, but some deals fell through due to "competitive pricing." China's State Council Customs Tariff Commission also "will no longer rule out levying import duties on US agricultural products purchased after August 3," according to the Commerce Ministry statement. The United States and China may be headed for a currency war The latest salvo in the trade war sent global markets plunging Monday. In addition to the halt in American agriculture purchases, China devalued the yuanMonday morning, sparking fear that the United States could retaliate. The US Chamber of Commerce warned last week that new tariffs "will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong US economy." China's halt of US agricultural purchases will hurt America's farmers in dire need of relief. The trade war has forced Washington to come to the rescue of farmers with billions of dollars in aid. Delinquencies on agriculture loans have tripled since mid-2015 to eight-year highs, according to the St. Louis Federal Reserve Bank. FDIC Chairman Jelena McWilliams told CNN Business last week that the agency is "monitoring very closely" how banks in farm states are being impacted by the trade war. "We may experience more delinquencies, which then become very difficult for those communities and our ag sector," McWilliams said.