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.

President Xi Jinping vowed on Tuesday to boost China's footprint in Latin America and the Caribbean with a new $9 billion credit line and fresh infrastructure investment, although Brazil warned the region not to become too reliant on foreign funding.

China is moving to strengthen its alliances as a counterweight to President Donald Trump’s trade war, presenting a united front with Latin American countries at an event in Beijing