Whisk together the cornstarch, garlic powder, onion powder and cumin in a medium saucepan. Add the cheese and whisk to combine. Pour in the evaporated milk and whisk to combine. Set over medium-low heat and cook, whisking constantly, until the cheese is melted and the mixture is thick enough to coat the back of a spoon, about 5 minutes.
Transfer the queso dip to a warm serving dish. Top with cilantro, jalapeno and red onions. Serve with tortilla chips.
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