There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.

The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.

Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.

This weekend’s talks between Washington and Beijing officials in Geneva culminated in both countries cutting their tariff for at least the next 90 days, with the U.S. slashing its duties on Chinese goods from 145% to 30% and China cutting its levies on U.

In a surprising turn of events, the United States and China have agreed to significantly reduce tariffs following a pivotal meeting in Geneva. This agreement, announced on a Monday, has exceeded Wall Street's expectations and initiated a 90-day 'cooling-off' period for further negotiations.

Both countries reflected on their recent discussions and believed that continued discussions have the potential to address each side's concerns in their economic and trade relationship. G

With his tariff 'deals,' President Trump leaves international trade relationships even more unsettled than before.