in May after a "security incident".

However, the most recent official data showed the US economy shrank at an annual rate of 0.2% in the first three months of this year, the first contraction since 2022.China says the US has "severely violated" their trade truce and that it will take strong measures to defend its interests.

China's Ministry of Commerce said Washington has "seriously undermined" the agreement reached during talks in Geneva last month, when both countries lowered tariffs on goods imported from each other.The spokesperson added that US actions have also severely violated the consensus reached during a phone call in January between China's leader Xi Jinping and President Donald Trump.The comments come after

The US President did not give details but Trade Representative Jamieson Greer later said China had not been removing non-tariff barriers as agreed under the deal.Under the trade truce struck in May at a meeting in Geneva, the US lowered tariffs imposed on goods from China from 145% to 30%. China's retaliatory tariffs on US goods dropped from 125% to 10%.

On Monday, Beijing said US violations of the agreement included stopping sales of computer chip design software to Chinese companies, warning against using chips made by Chinese tech giant Huawei, and cancelling visas for Chinese students.

The deal reached in Geneva came as a surprise to many analysts as it seemed that the two sides were incredibly far apart on many trade issues.The oval-shaped piece, which sold for more than £3.5m in 2024, was later given a

preventing it from leaving the country - providing a UK gallery the chance to acquire it.The Art Fund charity has offered £750,000 towards the cost, however a further £2.9m is required before a 27 August deadline.

If the target was not met, the sculpture by the Wakefield-born artist would go to a private buyer and be taken overseas.The appeal is backed by artists and creatives including Sir Antony Gormley, Anish Kapoor, Jonathan Anderson, Richard Deacon, Katy Hessel, Veronica Ryan, Joanna Scanlan and Dame Rachel Whiteread.