Investing.com -- In a move escalating trade tensions, China on Tuesday suspended the import qualifications of soybeans from three U.S. exporters and halted the imports of U.S. lumber.
This action was seen as an increase in retaliatory pressure against U.S. tariffs, marking the start of an intensified trade war.
The customs department identified the three U.S. companies affected by the suspension as CHS Inc, Louis Dreyfus Company Grains Merchandising LLC, and EGT, it said in a statement.
The reason for the suspension of soybean imports was the detection of ergot and seed coating agent in the U.S. soybeans, according to the customs department.
In the case of U.S. lumber imports, the suspension was due to the detection of small worms, aspergillus, and other pests.
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