China retaliated with penalty duties and ordered importers to find non-U.S. suppliers.
U.S. Census Bureau. Trade in Goods with China.
Beijing agreed previous year to narrow its trade surplus with the United States by buying more American natural gas and other exports but scrapped that plan after one of Trump's tariff hikes. Trump said on Twitter.
June marked the first full month of higher US tariffs on $200 billion of Chinese goods, which Washington announced weeks earlier after trade talks between the world's largest economies broke down.More news: Russia’s turquoise lake, a popular selfie spot, is a toxic waste dump
US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke on the phone with their Chinese counterparts this week, marking the first high-level contact following the G-20 meeting.
Trump accused Beijing on Thursday of backsliding on promises to buy more American farm goods. It gave no details or a date for more contacts.
Exports and imports with Russia, Saudi Arabia and Egypt went up by 11.5 percent, 34 percent and 11 percent respectively, GAC data showed. Mistrust between Washington and Beijing runs high.
Trump's statement "highlighted how more speed bumps may remain in the road ahead", said Craig Orlam of OANDA in a report.More news: Tropical Storm Barry Creeps Closer As Gulf Coast Prepares To Be Drenched
A steady performance of the domestic economy could provide Beijing with fresh confidence to take a harder stance in talks with Washington, as it would indicate the United States tariffs and the acceleration of the relocation of manufacturing from China to Southeast Asian countries has not derailed growth.
Since both nations first slapped tariffs on each others' goods back in March 2018, the cumulative loss in the value of goods exported between both nations now totals $42.9 billion. Farmers who use soybeans as animal feed have been told to switch to other grains. But while American exporters have been hit hardest, Chinese industries including electronics that Beijing sees its economic future have suffered double-digit declines in sales to the United States, their biggest market.
Earlier on Thursday, Chinese Ministry of Commerce spokesman Gao Feng said the agricultural trade is "an important issue that the two sides need to talk about" but didn't confirm whether China agreed to buy American agricultural products as part of the agreement reached in Osaka.More news: Donald Trump tears into 'lame duck failure' Paul Ryan