The pair have been talking throughout a summit of the Asia Pacific Financial Co-operation (APEC) in Papua New Guinea. Mr Jinping commented: “Makes an attempt to erect obstacles and minimize shut financial ties work in opposition to the legal guidelines of economics and the tendencies of historical past. It is a short-sighted method and it’s doomed to failure.”

Comparable sentiments have been expressed by Mr Medvedev shortly earlier than US Vice President Mike Pence was on account of give an deal with on what he believes America is doing to advertise prosperity and freedom within the area.

Since coming to workplace in January 2017 President Trump has imposed a variety of rounds of tariffs on international locations he accuses of getting an unfair commerce relationship with the USA.

Most prominently in September of this yr the US positioned tariffs on $200billion of Chinese language items, together with shopper items, electronics and meals.

The Chinese language authorities mentioned it “deeply regrets” the choice and mentioned they’d “no selection however to take counter-measures”.

President Trump commented: “For months now we have urged China to vary these unfair practices and provides honest and reciprocal therapy to American firms.

“Thus far China has been unwilling to vary its practices.”

President Trump additionally threatened financial motion in opposition to international locations buying and selling with Iran after reimposing sanctions on the Center Japanese state over its nuclear programme.

On August 7 he tweeted: “Anybody doing enterprise with Iran will NOT be doing enterprise with the USA.”

A second spherical of US sanctions concentrating on Iran, together with its important oil and transport sectors, took impact earlier this month.

Mr Medvedev’s feedback at APEC is the second time this month he’s launched a robust assault on protectionism.

On November 5 he advised a Shanghai Media Group convention “protectionism is a foul phenomenon in world economic system.

“It has at all times exists however in earlier years most international locations adhered to the principles developed within the WTO framework.”

He went on to reward the World Commerce Organisation system saying: “Thus far mankind has not invented something higher on this sphere.”

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