TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump’s trade war, presenting a united front with Latin American leaders a day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate.

Grocers’ sales are more reliant on domestically grown food. Supermarket operator Kroger, which previously disclosed “small single-digit exposure” to inventory from China, was down 4.7 per cent in early trading. Walmart, where the bulk of US sales come from groceries, was off by 0.8 per cent.

The US and China have agreed to a 90-day suspension of steep tariffs following breakthrough trade talks in Geneva. While both sides promised major tariff cuts, concerns

Brazil signed protocols with China on Tuesday to allow exports of an ethanol by-product used in animal feed, challenging U.S. dominance in the market amid the ongoing China-U.S. trade standoff.

It took one weekend in Geneva for US President Donald Trump to roll back what has been seen till now as the raison d’etre of his presidency

Wall Street was on track to open with losses as the initial euphoria over the 90-day truce in the U.S.-China trade war faded.

China will host a summit that includes its key Latin American trade partners this week in an effort to advance influence and partnerships in the region, as Beijing and Washington try to defuse their trade war.

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