China has accused the Trump administration of violating the recent trade agreement with the US, marking a fresh escalation in the tariff war between the world’s two largest economies.
Beijing responded after President Trump claimed on Friday that China had reneged on the deal reached in Switzerland last month. In a statement, the Chinese Ministry of Commerce said Washington had introduced a series of “discriminatory and restrictive” actions, including export controls on AI chips, a ban on sales of chip design software to Chinese firms, and the revocation of student visas.
Markets across Asia reacted sharply to the renewed tensions. Hong Kong’s Hang Seng Index dropped 1.6%, while Japan’s Nikkei fell 1.4%.
“The US government has unilaterally and repeatedly provoked new economic and trade frictions, exacerbating uncertainty and instability in bilateral economic and trade relations,” China’s Commerce Ministry said.
It warned that if the US continues on its current path and harms China’s interests, “China will continue to take resolute and forceful measures to safeguard its legitimate rights and interests.”
