Leaders and officials from Latin America and the Caribbean have descended on the Chinese capital for the China-CELAC (Community of Latin American and Caribbean States) Forum.
Addressing leaders on Tuesday, Xi hailed China's burgeoning ties with the region.
“Only through unity and cooperation can countries safeguard global peace and stability and promote worldwide development and prosperity,“ Xi said, pledging $9.2 billion in credit towards “development” for the region. He also warned of “bloc confrontation”.
Under that agreement, the United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent.
Xi told delegates Tuesday: “There are no winners in tariff wars or trade wars.”
“The world today is undergoing accelerated transformations unseen in a century, with multiple risks intertwined and overlapping,“ Xi said.
Also present is Colombian President Gustavo Petro, who last week said he intends to sign an accord to join Beijing's Belt and Road Initiative during his visit.
Two-thirds of Latin American countries have joined Beijing's trillion-dollar BRI infrastructure programme, and China has surpassed the US as the biggest trading partner of Brazil, Peru and Chile, among others.
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