China Puts U.S. Soy Buying on Hold as Tariff War Escalates

  • Nation doesn’t plan to cancel previous purchases, people say
  • Perdue has said China pledged to buy another 10 million tons
Markets Are Still Underestimating Trade War Risks: Eurasia Group
Lock
This article is for subscribers only.

China, the world’s largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter.

State-grain buyers haven’t received any further orders to continue with the so-called goodwill buying and don’t expect that to happen given the lack of agreement in trade negotiations, said the people, who asked not to be named because the information is private. Still, China currently has no plans to cancel previous purchases of American soybeans, the people said.