US-China rivalry morphing into a multifront war with no easy way out

Jun 4, 2025 | INVESTING

In a stark turn of events, US President Donald Trump has accused China of “totally violating” the Geneva trade agreement. The May 12 deal, which slashed US tariffs on Chinese imports from 145 per cent to 30 per cent and Chinese tariffs on US goods from 125 per cent to 10 per cent, was touted by Trump as a triumph of American diplomacy.
Within weeks, however, Trump reversed course, his administration accusing China of failing to resume rare earth exports as promised. Beijing vehemently denies any…

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