Amid the escalating trade tensions between the world two biggest economic powers,... China,... the world's largest soybean buyer has put purchases of American supplies on halt.
Despite the intensifying trade conflict,... President Trump say Washington is doing well in trade talks and Beijing wants to make a deal.
Lee Seung-jae reports.
U.S. President Donald Trump's decision to escalate the trade war with China this month,... raising tariffs on about 200-billion dollars of Chinese goods,... has prompted Beijing to retaliate with tough duties of its own.
China's move could bite as the world's largest soybean buyer has put purchases of American supplies on hold.
According to sources familiar with the matter,... state-grain buyers in China haven't made or received any further orders,... though previous orders will not be cancelled.
According to data from the U.S. Department of Agriculture,... China bought about 13 million tons of American soybeans after the two sides agreed to a truce in December,... a move that showed goodwill toward getting the trade dispute resolved.
While China pledged to buy an additional 10 million tons,... purchases have now ceased.
In addition,... China has yet to take delivery of about seven million tons of the product,... which it committed to buy in the current marketing year.
Despite Beijing's latest retaliation,... President Trump says Washington is doing well in trade talks,... adding that China wants to strike a deal.

" I think we're doing very well with China, we'll see what happens. But I can tell you China very much wants to make a deal because the companies are leaving China to avoid the tariffs. China is becoming a very weakened nation just as Iran has become a very weakened nation and Iran wants to make a deal also."

While it remains to be seen if the two sides will ever strike a deal,... U.S. Treasury Secretary Steven Mnuchin says he'll likely travel to Beijing "in the near future" to continue negotiations.
Lee Seung-jae, Arirang News.