China Tightens Trade Retaliation: U.S. Firms Face Import Suspensions

China has suspended soybean import licenses for three U.S. firms and ceased imports of U.S. logs in response to additional U.S. tariffs. This move adds to China's already imposed levies on $21 billion worth of U.S. agricultural and food products, intensifying the ongoing trade conflict.

In a significant escalation of the trade conflict between the United States and China, Beijing announced the suspension of soybean import licenses for three U.S. companies on Tuesday. Additionally, China has halted imports of U.S. logs, intensifying its retaliation against increased U.S. tariffs on Chinese goods.

The affected companies, which include CHS Inc, Louis Dreyfus Company Grains Merchandising LLC, and EGT, are confronted with severe challenges as China confirmed the presence of ergot and seed coating agents in imported soybeans. Worms and other pests were also reportedly found in U.S. log imports, justifying the import suspension according to China's customs department.

This latest trade salvo by China follows President Donald Trump's decision to impose a 10% duty on Chinese products, raising the stakes in a trade war that shows no signs of abating. With China being a major importer of U.S. agricultural products, this move puts increased pressure on American farmers and highlights the broader implications of the ongoing trade disputes.

(With inputs from agencies.)