A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war.

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.

Donald Trump’s team is throwing itself into the most expansive and simultaneous set of high-level diplomatic negotiations in years, involving China, Ukraine, Russia, Iran, the Middle East and multiple global trading rivals.

President Donald Trump’s agreement with China to temporarily slash tariffs for 90 days offered the world a bit of welcome relief.

The new US-China trade truce has eased some of the pressure on global markets, but its impact on companies like Boeing highlights how disruptive the

The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

But on Monday, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer said the two sides had agreed to a 90-day tariff truce of sorts, with the U.S. dropping duties on Chinese goods to 30% and Beijing cutting import taxes on U.S. products to 10%.

The U.S. and China agreed to lower tariffs for 90 days. The details: U.S. tariffs on Chinese goods will fall to 30 percent from 145 percent. Meanwhile, China’s blanket tariffs on U.S. products will drop to 10 percent from 125 percent. A few tariffs will remain. President Donald Trump signed an order to lower prescription drug prices.

Trump is in Saudi Arabia leading a large delegation of top officials from his administration and leaders in the business world.