President Trump said Monday he will likely speak with Chinese President Xi Jinping in the coming days, after the White House announced a deal to temporarily reduce Trump’s tariffs on Chinese goods from 145% to 30%. The announcement set off a stock market rally on Monday, led by tech stocks including Amazon, Tesla and Apple.

Meanwhile, Colombian President Gustavo Petro said Monday his nation will join the Belt and Road Initiative, China’s massive global infrastructure development project. Petro spoke from the Great Wall of China ahead of a summit of Latin American and Caribbean leaders in Beijing. In an opening address earlier today, President Xi pledged lines of credit worth 66 billion yuan — equivalent to more than $9 billion U.S.

President Xi Jinping: “There are no winners in tariff wars and trade wars. Bullying and tyranny will only isolate oneself. China and Latin America and Caribbean countries are important members of the Global South. Independence and self-reliance are our glorious traditions. Development and revitalization are our natural rights.”