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.

The Trump administration agreed after talks this weekend in Switzerland to pare back its 145% in tariffs charged on imports from China to 30%. The Chinese government chose to reduce its retaliatory import taxes on U.S. goods from 125% to 10% while the sides continue to negotiate.

The 145 percent U.S. tariff on Chinese goods will come down to 30 percent for 90 days, while the two sides continue talks aimed at resolving their differences.