It comes as the US launched an aid package for farmers affected by the trade tensions. The US Department of Agriculture planned to allocate $16 billion (£12.65bn), including $14.5bn (£11.47bn) in direct payments to producers through the Market Facilitation Programme.
American NFU president Roger Johnson said farmers appreciated the USDA’s work to mitigate losses, as low commodity prices and excess production compounded the issues.
But he added it was a short-term fix for a ‘very long-term problem’. Despite numerous talks since the beginning of last year, China and the US were yet to reach a compromise.
Search engine for used machinery, Trademachines.com, said the ramifications were both serious and intriguing.
Since China joined the World Trade Organisation in 2001, the American trade deficit with China has multiplied by a factor of 4.5.
However, Trademachines.com said it was not China’s fault, but US companies taking advantage by manufacturing abroad and importing goods.