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President Donald Trump’s promise that his phase one trade deal with China would provide a $36.5 billion election-year bonanza for his rural base was always a stretch. Now it looks like it may never be fulfilled.

The Trump administration moved June 3 to block Chinese airlines from flying to the U.S. in an escalation of trade and travel tensions between the countries.

Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods, including soybeans, as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation.

President Donald Trump intensified his confrontation with China, vowing to punish the country for the coronavirus pandemic and taking steps to curb Hong Kong’s autonomy by ending the territory’s special trade status with the U.S. and denying visas to Chinese officials.

The U.S. has certified that Hong Kong is no longer politically autonomous from China, a move that could have far-reaching consequences on the former British colony’s special trading status with the U.S., Secretary of State Michael Pompeo said.

China is stepping up purchases of soybeans from the U.S. as Brazilian sales start to wane and the Asian nation seeks to meet its pledges under the trade deal with Washington, according to people familiar with the matter.

President Donald Trump cast doubt on the future of his “phase one” trade deal with China, one of the biggest accomplishments of his first term, saying May 8 that he’s struggling with Beijing in the wake of the global coronavirus pandemic.

China Merchants Group Ltd. is exploring taking China Merchants Port Holdings Co. private after shares of the state-owned conglomerate’s unit slid in Hong Kong this year, according to people with knowledge of the matter.

China’s manufacturing rebounded in March as authorities relaxed anti-disease controls and allowed factories to reopen, an official survey showed March 30, but an industry group warned the economy has yet to fully recover.

While much of the world’s output is grinding to a halt because of the coronavirus, China is slowly emerging from its shutdowns by restarting production at factories and resuming some flights.