China may reduce its imports of agricultural products from the United States if Washington issues a severe response to Beijing's push to impose national security laws on Hong Kong, three sources said.
BEIJING/SINGAPORE - China may reduce its imports of agricultural products from the United States if Washington issues a severe response to Beijing’s push to impose national security laws on Hong Kong, three sources said.
U.S. President Donald Trump has vowed a tough response, and will hold a news conference on China later on Friday. Soybeans were the top U.S. farm product shipped to China in 2017, with cargoes worth $12 billion, and traders have said they expected China to step up purchases of U.S. cargoes of the oilseed.
China has already bought some U.S. soybeans and corn in several rounds of purchases this year, but the typical peak period for Chinese purchases of U.S. crops comes after harvest in the fall. Those purchases may now be in doubt.
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