In the latest escalation of the trade war, Chinese companies have halted purchases of US agricultural products, CNN reports. The halt in purchases comes in response to the Trump administration's announcement of new tariffs on Chinese imports. China's Commerce Ministry called the tariffs a "serious violation of the consensus reached by the two countries' leaders." At the June G20 meeting in Osaka, American and Chinese officials had agreed to a cease-fire in the trade war. China devalued the yuan Monday morning, sparking fear that the United States could retaliate.