US President Donald Trump has accused China of breaching a tariff truce established earlier this month, to which China has countered with its own allegations of US misconduct.
Washington and Beijing had agreed to temporarily reduce reciprocal tariffs following discussions in Geneva.
However, Trump stated on Friday that China had “completely violated its agreement with us.” While he did not provide specifics, US Trade Representative Jamieson Greer later indicated that China had failed to eliminate non-tariff barriers as stipulated in the agreement.
Beijing’s response on Friday did not directly address the US allegations but called on the US to “stop discriminatory restrictions against China.”
The strong rhetoric from both nations has heightened fears that trade tensions could escalate once more between the two largest economies in the world, despite recent negotiations.
In a post on Truth Social, Trump remarked that the tariffs imposed by his administration had been “devastating” for China, leading him to “make a FAST DEAL” to rescue them from “what I believed would be a very bad situation.”
“Everyone was pleased! That is the good news!!! The bad news is that China, perhaps unsurprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!”
He did not elaborate on his accusation, but Ambassador Greer later informed CNBC that China had yet to adequately roll back other trade restrictions it had imposed on the US.
Greer explained that when China retaliated against the US tariffs, they also implemented countermeasures, including placing some US companies on blacklists and limiting exports of rare earth magnets, which are essential for cars, aircraft, and semiconductors.
“They lifted the tariff like we did, but some of the countermeasures have been slowed down,” Ambassador Greer stated.
He added that the US had been monitoring China closely to ensure compliance with the agreement and expressed that they were “very concerned” about the progress.
“The United States fulfilled its obligations as expected, while the Chinese are dragging their feet on compliance, which is…
Source: HotFmOnline.com
Do you have a story to share? Send it to our editorial team at editor@hotfmonline.com
