China’s President Xi Jinping told the world on Friday that Donald Trump is a “bully” and that America has no business being as powerful as it is. That came right after Trump’s White House slapped “reciprocal tariffs” on Chinese exports headed to the U.

Chinese leader Xi Jinping held court with dozens of the world’s top executives on Friday, as he sought to bolster foreign investment during an escalating trade war with the United States.

China has come out swinging against President Trump’s tariffs and says it will take resolute measures in response. A Commerce Ministry statement Thursday said the tariffs “violate international trade rules,