The Chinese Embassy has shared a clip of the iconic Republican criticizing tariffs, saying his words have "new relevance" amid Trump's global levies.

President Trump vowed his administration will reach a "fair deal" with China on trade as he floats substantially reducing tariffs on Beijing.

The White House said Tuesday that it was “setting the stage for a deal with China” on trade as administration officials seek to reassure nervous financial markets and investors that progress with Beijing could be imminent.