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Media Report
May 30 , 2019
  • Bloomberg reports, "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. President Donald Trump escalated his trade war with China earlier this month, ramping up tariffs on about $200 billion of Chinese goods, prompting Beijing to retaliate with further duties of its own. Trump and his counterpart Xi Jinping are expected to meet again at the end of June for the G-20 summit, when some analysts predict a potential resolution."
  • Reuters reports, "The United States is 'playing with fire' with its support for self-ruled Taiwan, China said on Thursday, in angry comments ahead of a meeting between Defence Minister Wei Fenghe and acting U.S. Defense Secretary Patrick Shanahan. The two countries, locked in an escalating trade war, are also at odds over a series of strategic issues, from the disputed South China Sea to democratic Taiwan, claimed by China as its sacred territory, to be taken by force if needed. Wei and Shanahan - who on his first day as acting defense secretary in January said the U.S. military would focus on 'China, China, China' - are both attending the annual Shangri-La defense forum in Singapore which begins on Friday, where they are expected to meet. China has been particularly incensed by recent U.S. Navy patrols in the Taiwan Strait, U.S. legislation in support of Taiwan and a meeting between Taiwan's national security chief David Lee and White House national security adviser John Bolton."
  • CNN reports, "China accused the Trump administration of committing 'economic terrorism' on Thursday, escalating its war of words with the United States amid rising trade tensions between the two countries. The Ministry of Foreign Affairs said the White House had 'brought huge damage to the economy of other countries and the US itself,' spokesperson Lu Kang told reporters in Beijing on Thursday. Lu described US trade policy as 'typical economic terrorism, economic hegemonism, and economic unilateralism.' The statement followed similarly ominous rhetoric from Chinese state media, which issued a stern message to Washington on Wednesday: 'Don't say we didn't warn you.' The People's Daily, the newspaper of the ruling Communist Party, used the loaded phrase in a commentary on Wednesday, in which it said that China would 'never accept' the US' suppression of Chinese development."
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