China announced Monday that it rejects accusations made by the Trump administration that it has broken terms in regard to the recent trade deal made between the two nations.

China has rejected President Donald Trump’s accusation that it violated a trade agreement recently announced in Geneva, Switzerland. On Monday, Chinese officials responded to comments Trump made over the weekend that accused Beijing of failing to meet the terms established in a deal reached last month.

China's allegations come after President Trump on Friday accused the Chinese of violating a May 12 trade pact.

US tensions with two key trade partners amped up on Monday after President Trump doubled tariffs on steel and aluminum and the US pushed countries for deals ahead of looming deadlines. China responded to Trump's claim on Friday that it has "totally violated its agreement" with the US,

China said on Monday that U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless", and promised to take forceful measures to safeguard its interests.

The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.

While Ian Bremmer acknowledged Prime Minister Narendra Modi's international strength, he noted that geopolitically, India remains "much weaker" than the United States or China.