"China has concerns about the difficult goals that the United States is seeking to achieve in terms of agricultural purchases," Yunis Yun was quoted by the newspaper "CNN" as saying on Friday, quoting a source familiar with China's position.

The initial market reaction to this development caused the 10-year US Treasury yield, which was the last drop of 0.9% per day, to extend its slide. Moreover, S&P 500 index futures erased a large portion of previous gains and were still 0.2% higher ahead of Wall Street's opening bell.

"China has committed to buying $ 40 billion in agricultural products. But President Donald Trump wanted the number to be close to $ 50 billion," according to a CNBC article.