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Markets plunges as China stops buying US farm products
By EUobserver
Global markets plunged om Monday over the news that Chinese companies have halted purchases of US agricultural products marking the latest escalation of a trade war between the United States and China. China also devalued its currency, the yuan, on Monday. The Trump administration announced new tariffs on Chinese imports last week while praising a previously-announced deal that will open up the European Union to more US hormone-free beef.