President Xi Jinping vowed on Tuesday to boost China's footprint in Latin America and the Caribbean with a new $9 billion credit line and fresh infrastructure investment, although Brazil warned the region not to become overly reliant on foreign funding.

President Luiz Inácio Lula da Silva of Brazil is visiting Beijing this week, and China’s Xi Jinping will also meet top officials from other Latin American and Caribbean nations to emphasize their ties.

A day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate, China is moving to strengthen its alliances as a counterweight to President Donald Trump's trade war.