Chinese President Xi Jinping disagreed with the Trump administration on the issue of whether trade wars produce a winner.
The White House on Monday released a fact sheet about Trump's "historic trade win" in an agreement between the U.S. and China that reduces China's tariffs and eliminates retaliation, retains a U.S. baseline tariff on China, and sets a path for future discussions to open market access for American exports.
"This trade deal is a win for the United States, demonstrating President Trump's unparalleled expertise in securing deals that benefit the American people," the release said.
Speaking at the China-CELAC Forum in Beijing on Tuesday, Xi told attendees, "Bullying and tyranny will only lead to self-isolation. There are no winners in trade wars," The Washington Post reported.
U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
China's Commerce Ministry called the agreement an important step for the resolution of the two countries' differences and said it lays the foundation for further cooperation.
Xi told people at China-CELAC, a forum between Beijing and Latin American and Caribbean countries, that "only through unity and cooperation can countries safeguard global peace and stability and promote worldwide development and prosperity," Axios reported.
Chinese officials are insisting they won the first round of trade talks with the U.S.
"This is called, 'victory,'" Hu Xijin, the former editor of the state-run Global Times, posted on Weibo, the Post reported.
"Today we have definitely driven the Americans back to the 38th parallel!" he said, referring to the boundary between North and South Korea.
"This shows that China's firm countermeasures and resolute stance have been highly effective," Yuyuan Tantian, a social media account affiliated with state broadcaster CCTV, wrote on Weibo. "The retaliatory measures clearly had a significant impact on the US, prompting its government to lower tariffs to baseline levels following the talks."
Reuters contributed to this story.
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Charlie McCarthy, a writer/editor at Newsmax, has nearly 40 years of experience covering news, sports, and politics.
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