China makes next move in trade war, reportedly halting US soy purchases

The Chinese port of Nantong in Jiangsu Province, China.

Xu Congjun | Visual China Group | Getty Images

China has halted purchases of American soybeans in another move in the escalated trade war with the U.S., according to a Bloomberg report.

Chinese buyers have stopped ordering and don't expect to resume the purchases due to the disagreement over trade between the world's two largest economies, the Bloomberg report said, citing people familiar with the matter. They also said China currently has no plans to cancel previous orders.

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