China is striking back at the U.S. over Washington's punitive actions on Hong Kong. Sources tell Reuters Beijing has ordered state-owned firms to stop buying soybeans and pork from the U.S. Also put on hold: large volume purchases of U.S. corn and cotton. The sources said Beijing is ready to expand that list if Washington takes more action on Hong Kong. And under a worst case scenario, a source said Beijing will scrap the Phase 1 trade deal. Under that agreement signed in January, China had pledged to buy an additional $32 billion of U.S. agricultural products over two years. In the first quarter, China bought more than $1 billion worth of U.S. soybeans and nearly $700...
The United States is considering the option of welcoming people from Hong Kong in response to China's push to impose national security legislation in the former British colony, U.S. Secretary of State Mike Pompeo said in remarks released on Monday. Speaking to the American Enterprise Institute on Friday, Pompeo gave no details about immigration quotas or visas, and merely said: "We are taking a look at it." President Donald Trump on Friday ordered his administration to begin the process of eliminating special U.S. treatment for Hong Kong to punish China, but stopped short of immediately ending privileges that have helped the territory remain a global financial center.
(Bloomberg) -- U.S. stocks edged higher as investors focused on signs of economic recovery amid further tension with China, lackluster virus drug-test results and the threat of further civil unrest in America. Treasury yields edged higher and the dollar slumped.The S&P 500 Index eked out a small gain
(Bloomberg) -- Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation.State-owned traders
China has told state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special treatment for Hong Kong to punish Beijing. Large volume state purchases of U.S. corn and cotton have also been put