The United States has unilaterally provoked new economic and trade frictions, exacerbating the uncertainty and instability of bilateral economic and trade relations,” while China has stood by its commitments
China accused the U.S. of violating an agreement made at their tariff-cutting discussions in Geneva in May, and said it will take further action as the trade dispute between the world’s two largest economies blows open again.
President Donald Trump‘s administration has in recent days issued AI chip export control guidelines, stopped the sale of chip design software to China, and is planning to revoke a significant number of Chinese student visas.
Trump had also accused the Chinese side of having “TOTALLY VIOLATED” the Geneva agreement, which saw the U.S. and China both reduce their import tariffs by 115 percentage points, soothing global markets.
“These practices seriously violate the consensus” reached in Geneva, the Chinese Commerce Ministry said in a statement on Monday.
The Commerce Ministry said China held up its end of the deal, canceling or suspending tariffs and non-tariff measures taken against the U.S. “reciprocal tariffs” following the agreement.
“The United States has unilaterally provoked new economic and trade frictions, exacerbating the uncertainty and instability of bilateral economic and trade relations,” while China has stood by its commitments, the statement said.
It also threatened unspecified retaliation, saying China will “continue to take resolute and forceful measures to safeguard its legitimate rights and interests.”
And in response to recent comments by Trump, it said of the U.S.: “Instead of reflecting on itself, it has turned the tables and unreasonably accused China of violating the consensus, which is seriously contrary to the facts.”
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