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.

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.

Both the U.S. and China could be back at the negotiation table again soon to hash out further details, according to Treasury Secretary Scott Bessent.

While the White House backed off from its steepest levies on Chinese goods, economists say it’s still too early to declare the US economy is out of danger altogether. Recession risks remain, even if the odds of a downturn have been dialed back a notch.

Apple’s stock jumped 6% on Monday, adding roughly $180 billion to its market cap after the U.S. and China agreed to cut reciprocal tariffs from 125% to 10% for 90 days. President Trump said he spoke with CEO Tim Cook about boosting Apple’s U.

Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement

Five small businesses urged a federal court to block Trump's tariffs but government lawyers contend presidents have long regulated trade.