US-CHINA: Washington & Beijing Trade Accusations Of Violating 'Geneva Consensus'

MNI London: The United States and China have both accused the other of violating the tariff truce reached in trade talks in Geneva, Switzerland, earlier this month, known informally as the 'Geneva Consensus'.

• In a message on Truth Social, President Donald Trump said, "China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US."
• NBC News reports that a Chinese Embassy spokesperson said that while discussions have continued since the Geneva talks, "Recently, China has repeatedly raised concerns with the U.S. regarding its abuse of export control measures in the semiconductor sector and other related practices."
• Reuters notes that the concerns are likely related to restrictions imposed by the White House on high-end goods like semiconductors, which "appear aimed at choke points to prevent China from getting products necessary for key sectors."
• USTR Jamison Greer told CNBC, "the Chinese are slow rolling their compliance [with the Geneva agreement], which is completely unacceptable," claiming that China had slowed the flow of "critical minerals and rare Earth magnets".
• Trump’s policy advisor Stephen Miller told reporters that "China didn't fulfill obligations made to the US," adding that China "must show its commitment to a rules-based international order."
• A spokesperson for the Chinese embassy in Washington said that Beijing has "repeatedly raised concerns" with the US over semiconductor export controls and urged the US to "uphold the consensus reached at the high-level talks in Geneva".
• Since the Geneva tariff truce, US and China tensions have flared again, with Treasury Secretary Scott Bessent suggesting yester that a call between Trump and Chinese President Xi Jinping might be needed to kickstart "stalled" negotiations.
• MNI's Political Risk Team pointed out in the US Daily Brief this morning that Beijing has also nixed one possible route to dialling down tensions by confirming that Defence Minister Dong Jun will skip this weekend’s Shangri-La Dialogue in Singapore - a key forum for sideline meetings.