President of the People's Republic of China, Xi Jinping, pledged to deepen ties with Latin American and Caribbean nations. Xi made this commitment during the China-CELAC Forum (Community of Latin American and Caribbean States) held in Beijing, China, on Tuesday, May 13, 2025.

“Although China is geographically distant from Latin America and the Caribbean, both sides share a long-standing history of friendship,” Xi stated, as reported by AFP.

“Only through unity and cooperation can countries uphold global peace and stability, and drive worldwide development and prosperity,” he added.

During the event, Xi also promised to provide US$ 9.2 billion (equivalent to IDR 152.5 trillion) in credit to support development efforts in the Latin American and Caribbean region. Furthermore, Xi warned against the dangers of “bloc confrontation” while addressing CELAC leaders.

His remarks came just one day after China and the United States jointly announced an agreement to drastically reduce tariffs over a 90-day period—an arrangement U.S. President Donald Trump described as a “complete reset.”

According to the agreement, the United States would lower tariffs on Chinese goods to 30 percent, while China would reduce its tariffs to 10 percent. This development marked a major de-escalation in the ongoing trade war between the world’s two largest economies, which had previously caused turmoil in global markets.

“There are no winners in a tariff war or trade war. Suppression and hegemony will only lead to isolation,” Xi declared.

He continued, “The world is currently undergoing a fast-paced transformation not seen in a century, with multiple overlapping and interconnected risks.”

Among the key participants at the forum was Brazilian President Luiz Inacio Lula da Silva, who arrived in Beijing on Saturday for a five-day state visit. Colombian President Gustavo Petro also attended the event. Last week, Petro stated his intention to sign an agreement to join China’s Belt and Road Initiative (BRI) during his visit.

At present, two-thirds of Latin American countries have joined Beijing’s trillion-dollar BRI infrastructure program. Moreover, China has overtaken the United States as the largest trading partner for countries like Brazil, Peru, and Chile, among others.