Beijing Blasts Trump's Trade Deal Claims, Accuses US of Provoking New Frictions

China refuted President Donald Trump’s accusations that the Asian nation had reneged on the bilateral trade agreement signed between the two countries on May 12 following the Geneva talks.

A Chinese Ministry of Commerce Department spokesperson said, “China, in accordance with the consensus reached in the joint statement, canceled or suspended the relevant tariffs and non-tariff measures taken against the US’ reciprocal tariffs.”

The truce signed between the two countries provided for scaling back the levies laid down on each other’s goods to 10% for 90 days to allow time to negotiate a final agreement.

“China, in a responsible attitude, seriously treats, strictly implements, and actively safeguards the consensus of the Geneva Economic and Trade Talks,” the spokesperson said.

Beijing, however, accused the U.S. of successively introducing several discriminatory restrictive measures against China after the Geneva talks, including issuing artificial intelligence (AI) chip export control guidelines, stopping the sale of chip design software (EDA) to China, and announcing the revocation of Chinese student visas. 

The spokesperson said these practices seriously violate the consensus reached by the two heads of state on January 17.

“The United States has unilaterally provoked new economic and trade frictions, exacerbating the uncertainty and instability of bilateral economic and trade relations,” the Commerce Department official said.

“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. China firmly rejects the unreasonable accusations.”

The official also urged the U.S. to work with China, immediately correct relevant wrong practices.  “If the United States insists on its own way and continues to damage China's interests, China will continue to take resolute and forceful measures to safeguard its legitimate rights and interests,” he said.

China’s response comes close on the heels of a Truth Social post by Trump that China “totally violated its agreement with us.”

Meanwhile, Treasury Secretary Scott Bessent and National Economic Council Director Kevin Hassett said in separate media appearances on Sunday that a talk between President Trump and Chinese President Xi Jinping could be imminent.

Bessent expressed confidence that the creases would be ironed out if the two talked. He also said a Trump-Xi call could pave the way for high-level negotiations between the countries en route to a final agreement.

The SPDR S&P 500 ETF (SPY) is up 0.9% this year, while the iShares MSCI China ETF (MCHI) has gained a steeper 13%.

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