China says US undermined the consensus reached in Geneva tariff talks

China on Monday accused the US of undermining the two countries’ preliminary trade agreement after the US issued an industry warning against using Chinese chips that singled out Huawei, per CNBC. 

According to a spokesperson for China's Ministry of Commerce, the US Commerce Department's advice is "discriminatory" and "market distorting," prompting Beijing to "demand" that the administration "correct its mistakes.”

Market reaction

At the time of writing, the AUD/USD pair is trading 0.06% lower on the day to trade at 0.6455.