{"id":14619,"date":"2025-06-02T07:15:27","date_gmt":"2025-06-02T07:15:27","guid":{"rendered":"https:\/\/infundpros.com\/?p=14619"},"modified":"2025-06-02T07:15:28","modified_gmt":"2025-06-02T07:15:28","slug":"china-accuses-us-of-seriously-violating-trade-truce-and-vows-to-respond","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14619","title":{"rendered":"China accuses US of \u2018seriously violating\u2019 trade truce and vows to respond"},"content":{"rendered":"<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=cacb126e-ed07-4083-84b1-0698d29913c2&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>China has accused the US of \u201cseriously violating\u201d a trade truce between the two powers and vowed to take strong measures to defend its interests as tensions reignite.<\/p>\n<p>China and the US agreed during talks in Geneva in early May to a deal that would temporarily reduce their tit-for-tat tariffs, which had soared as high as 145 per cent.<\/p>\n<p>President Donald Trump on Friday claimed that China had \u201ctotally violated\u201d the agreement, as US officials grew increasingly frustrated with the tepid pace of rare earth exports across the Pacific since the May 12 agreement.\u00a0<\/p>\n<p>But on Monday, China\u2019s commerce ministry said it had upheld the deal and accused Washington of introducing \u201ca series of discriminatory and restrictive measures\u201d in recent weeks that undermined the Geneva consensus and harmed \u201cChina\u2019s legitimate rights and interests\u201d.<\/p>\n<p>\u201cIf the US insists on going its own way and continues to harm China\u2019s interests, China will continue to take strong and resolute measures to safeguard its legitimate rights,\u201d the ministry said. <\/p>\n<p>Among the US actions cited in the statement were warnings against the use of Huawei chips globally, a halt to sales of chip design software to Chinese firms, and the cancellation of visas for Chinese students.<\/p>\n<p>The rise in tensions sent Asian markets down. Hong Kong\u2019s Hang Seng index and Japan\u2019s Nikkei 225 fell 1.5 per cent and 1.3 per cent, respectively. The offshore renminbi weakened 0.1 per cent to 7.21 a dollar. Stock markets in mainland China were closed for a public holiday.<\/p>\n<p>US officials believed the May 12 deal would unwind China\u2019s export restrictions on rare earths that it unveiled in early April, but China has instead kept its export regime in place while only slowly approving shipments to the US.<\/p>\n<p>The critical minerals are widely used in American auto, electronics and defence supply chains with the slow pace of exports to the US posing a growing threat of work stoppages for US manufacturers.\u00a0<\/p>\n<p>\u201cThe US has unilaterally provoked new trade frictions,\u201d China\u2019s commerce ministry said. \u201cInstead of reflecting on its own actions, it has groundlessly accused China of breaching the consensus,\u201d the ministry added.<\/p>\n<p>Trump told reporters on Friday he hoped to resolve the dispute in a call with Chinese President Xi Jinping, an idea he has floated several times in recent months, but which has yet to come to fruition.<\/p>\n<p>US officials, including Treasury secretary Scott Bessent, on Sunday said they expected the two leaders to speak very soon. Bessent told CBS he was confident Trump and Xi would be able to iron out differences over rare earths in an upcoming phone call. White House officials have said the call should take place this week. <\/p>\n<p>\u201cWhat China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe, and that is not what a reliable partner does,\u201d he said. <\/p>\n<p>\u201cThe fact that they are withholding some of the products that they agreed to release during our agreement, maybe it\u2019s a glitch in the Chinese system, maybe it\u2019s intentional, we\u2019ll see after the president speaks with the party chairman,\u201d he said.<\/p>\n<p><em>Additional reporting by Arjun Neil Alim<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/cacb126e-ed07-4083-84b1-0698d29913c2\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington, business and the world&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China accuses US of \u2018seriously violating\u2019 trade truce and vows to respond | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldChina has accused the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=14619\" 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