The pair were speaking during a summit of the Asia Pacific Economic Co-operation (APEC) in Papua New Guinea. Mr Jinping commented: “Attempts to erect barriers and cut close economic ties work against the laws of economics and the trends of history. This is a short-sighted approach and it is doomed to failure.”
Similar sentiments were expressed by Mr Medvedev shortly before US Vice President Mike Pence was due to give an address on what he believes America is doing to promote prosperity and freedom in the region.
Since coming to office in January 2017 President Trump has imposed a number of rounds of tariffs on countries he accuses of having an unfair trade relationship with the United States.
Most prominently in September of this year the US placed tariffs on $200billion of Chinese goods, including consumer goods, electronics and food.
The Chinese government said it “deeply regrets” the decision and said they had “no choice but to take counter-measures”.
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President Trump commented: “For months we have urged China to change these unfair practices and give fair and reciprocal treatment to American companies.
“So far China has been unwilling to change its practices.”
President Trump also threatened economic action against countries trading with Iran after reimposing sanctions on the Middle Eastern state over its nuclear programme.
On August 7 he tweeted: “Anyone doing business with Iran will NOT be doing business with the United States.”
A second round of US sanctions targeting Iran, including its critical oil and shipping sectors, took effect earlier this month.
Mr Medvedev’s comments at APEC is the second time this month he’s launched a powerful assault on protectionism.
On November 5 he told a Shanghai Media Group conference “protectionism is a bad phenomenon in global economy.
“It has always exists but in previous years most countries adhered to the rules developed in the WTO framework.”
He went on to praise the World Trade Organisation system saying: “So far mankind has not invented anything better in this sphere.”