logo
China 'firmly rejects' US claim that it violated tariff deal

China 'firmly rejects' US claim that it violated tariff deal

Hindustan Times2 days ago

China said Monday it "firmly rejects" US claims that it had violated a sweeping tariffs deal, as tensions between the two economic superpowers showed signs of ratcheting back up.
Beijing and Washington last month agreed to slash staggeringly high tariffs on each other for 90 days after talks between top officials in Geneva.
But top Washington officials last week accused China of violating the deal, with Commerce Secretary Howard Lutnick saying Beijing was "slow-rolling" the agreement in comments to "Fox News Sunday".
China hit back Monday, saying Washington "has made bogus charges and unreasonably accused China of violating the consensus, which is seriously contrary to the facts".
"China firmly rejects these unreasonable accusations," its commerce ministry said in a statement.
US President Donald Trump said last week that China had "totally violated" the deal, without providing details.
Beijing's commerce ministry said it "has been firm in safeguarding its rights and interests, and sincere in implementing the consensus".
It fired back that Washington "has successively introduced a number of discriminatory restrictive measures against China" since the Geneva talks.
The ministry cited export controls on artificial intelligence chips, curbs on the sale of chip design software and the revocation of Chinese student visas in the United States.
"We urge the US to meet China halfway, immediately correct its wrongful actions, and jointly uphold the consensus from the Geneva trade talks," the ministry said.
If not, "China will continue to resolutely take strong measures to uphold its legitimate rights and interests," it added.
US officials have said they are frustrated by what they see as Chinese foot-dragging on approving export licences for rare earths and other elements needed to make cars and chips.
But Washington's Treasury Secretary Scott Bessent looked to ease the pressure on Sunday, saying the two sides could arrange a call between their respective heads of state to resolve their differences.
"I'm confident... this will be ironed out" in a call between Trump and Chinese President Xi Jinping, Bessent said on CBS's "Face the Nation".
He added, however, that China was "withholding some of the products that they agreed to release", including rare earths.
On when a Trump-Xi call could take place, Bessent said: "I believe we will see something very soon."
China has been less forthcoming, and the commerce ministry's statement on Monday did not mention any planned conversations between the two leaders.
The Geneva deal was "an important consensus reached by the two sides on the principle of mutual respect and equality, and its results were hard-won", the ministry said.
It warned Washington against "going its own way and continuing to harm China's interests".
Global stocks finished mixed on Friday after Trump made his social media post accusing Beijing.
The Hong Kong stock exchange was down around 2 percent shortly after opening on Monday.
mjw/je/rsc

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'Trump said surrender, Modi said yes sir': Rahul targets PM over handling of Indo-Pak standoff
'Trump said surrender, Modi said yes sir': Rahul targets PM over handling of Indo-Pak standoff

New Indian Express

time32 minutes ago

  • New Indian Express

'Trump said surrender, Modi said yes sir': Rahul targets PM over handling of Indo-Pak standoff

Congress leader Rahul Gandhi on Tuesday accused Prime Minister Narendra Modi of having "surrendered" after a call with US President Donald Trump, amid Washington's claim of brokering a truce between India and Pakistan following Operation the Congress Workers' Convention in Bhopal, the Leader of Opposition in the Lok Sabha said, "A call came from Trump and Narendra ji immediately surrendered; history is witness to this. This is the character of BJP-RSS; they always bow down."Rahul stated that India broke Pakistan in 1971 despite America's a contrast with past Congress leadership, he invoked former PM Indira Gandhi's actions during the 1971 Bangladesh Liberation War, saying, "There was a time in 1971, when America's Seventh Fleet had come, but Indira Gandhi ji had said, 'I will do what I have to do'.""The Congress Party does not surrender. Gandhiji, Nehruji, Sardar Patelji – these are not people who surrender, but people who fight against superpowers," he added.ट्रंप का एक फोन आया और नरेंद्र जी तुरंत surrender हो गए - इतिहास गवाह है, यही BJP-RSS का character है, ये हमेशा झुकते हैं।भारत ने 1971 में अमेरिका की धमकी के बावजूद पाकिस्तान को तोड़ा था। कांग्रेस के बब्बर शेर और शेरनियां Superpowers से लड़ते हैं, कभी झुकते नहीं। Rahul Gandhi (@RahulGandhi) June 3, 2025 Doubling down his attack on the BJP, Rahul said, "I know the BJP-RSS people. If you put even a little pressure and give them just a slight push, they run away out of fear.""Donald Trump called from there and said 'Narender… surrender'. Here Narendra Modi followed Trump's gesture by saying 'Yes Sir'," he Trump has continued to claim that American intervention helped avert a potential nuclear conflict between India and Pakistan, after both countries agreed to a ceasefire following a series of has consistently rejected the claim, stating that neither the US nor its threat of tariffs played any role in the ceasefire talks with Pakistan."From the time Operation Sindoor commenced on May 7 till the time of cessation on May 10, there was conversation between India and the US. But the issue of tariffs never came up in these discussions," MEA spokesperson Randhir Jaiswal said at the weekly press briefing on May Affairs Minister S Jaishankar had also clarified that India and Pakistan were "very, very far away" from a nuclear conflict during their recent an interview to German newspaper FAZ, Jaishankar, in an apparent criticism of the West, said there has been a tendency to link everything in "our part of the world" to a "nuclear problem."The four-day India-Pakistan crisis and why civilian safety can't remain an afterthought

Here's why she lost — Bernie Sanders bluntly dissects Kamala Harris's collapse against Donald Trump in 2024
Here's why she lost — Bernie Sanders bluntly dissects Kamala Harris's collapse against Donald Trump in 2024

Time of India

time35 minutes ago

  • Time of India

Here's why she lost — Bernie Sanders bluntly dissects Kamala Harris's collapse against Donald Trump in 2024

Live Events FAQ (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Bernie Sanders said it was not Joe Biden's fault that Kamala Harris lost the 2024 election, it was Harris and her consultants' fault. He explained that the Democrats ran a bad campaign that didn't connect with working-class people. Sanders said Donald Trump was beatable, but the Democrats failed to talk about the real problems people face, as per personally traveled around the U.S. to help Kamala win and begged the campaign to focus on working-class issues. He wanted the campaign to talk about raising the minimum wage, fixing the healthcare system, building more affordable housing, and stopping greedy landlords. But the Harris campaign ignored him and instead focused on rich friends and anti-Trump Republicans, as per BBC Radio pointed out that Kamala spent too much time with Liz Cheney, a Republican, which confused working-class voters. Sanders also said it was a big mistake to use Mark Cuban, a billionaire from "Shark Tank", as a campaign supporter. He said this election should have been an easy win, but the campaign was misled by wealthy elites and bad consultants. He asked a very direct question to the Democratic Party: 'Which side are you on?', which means are you with the rich or with regular people?, according to a HuffPost a separate interview, Sanders told The Washington Post that Democrats don't do enough to actually help working-class families. He said the problem is not fighting Trump harder, but not offering a strong plan that actually helps normal Americans. He believes even some Trump supporters would vote Democrat if the party had a better agenda for working people, as per The Washington Post before the election, people were already worried that Democrats were depending too much on celebrities like Oprah, Beyoncé, Clooney, and After the loss, many political experts said these celebrity endorsements backfired and made the party look out of touch. One Republican strategist, William F.B. O'Reilly, told The New York Times that celebrity support now looks elitist and is a 'kiss of death' in many parts of America, as per The New York Times said her campaign ignored real issues like wages, housing, and experts said it made her look out of touch with normal voters.

ET Market Watch: Sensex Falls 636 pts
ET Market Watch: Sensex Falls 636 pts

Economic Times

time35 minutes ago

  • Economic Times

ET Market Watch: Sensex Falls 636 pts

Transcript Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: The stock markets took a hit today! Sensex fell 636 points, Nifty dropped 174. Here's why investors are on edge — in 60 seconds: 1. Trump's Trade Move The US plans to double tariffs on steel & aluminium to 50%. That's bad news for Indian exporters like Tata Steel & Hindalco. 2. Global Slowdown Signs Manufacturing is shrinking in the U.S. and China. That's a clear red flag for global demand. 3. RBI Policy Ahead Markets are nervous before Friday's RBI meeting. A rate cut is likely, but what the RBI says will matter more. 4. US Debt Worries The U.S. is discussing a new $3.8 trillion spending plan. Yields are rising, and that's pulling equities down. 5. Oil Price Volatility Crude is rising again, thanks to OPEC+ supply cuts. For India, higher oil means inflation risks. 6. Unclear Fed Signals A Fed rate cut might come later this year—but there's no clear timeline. Markets don't like guessing games. Takeaway? ₹2.5 lakh crore wiped off BSE market cap in a day. Eyes now on RBI — will it stabilize the mood? Follow for more clear, crisp market updates!

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store