Long-threatened tariffs from U.S. President Donald Trump have plunged the country into trade wars abroad — all while on-again, off-again new levies continue to escalate uncertainty.

There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.

The Trump administration cut tariffs on low-value parcels from China by more than half, shortly after Washington and Beijing agreed a trade truce. From Wednesday, shipments worth less than $800 from China will be charged 54%.

Here's what an agreement by the U.S. and China to suspend steep tariffs for 90 days means for consumers, businesses and the economy.

China has removed its ban on airlines accepting Boeing planes after Beijing and Washington agreed to temporarily reduce the steep tariffs on one another.

China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday.

China has removed a monthlong ban on airlines taking delivery of Boeing planes, according to people familiar with the matter.

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

After two days of high-stakes talks in Switzerland, trade negotiators from the world’s biggest economies announced a massive if temporary de-escalation of tariffs, with the US slashing duties on Chinese products to 30% from 145% and Beijing dropping its levy on most goods to 10%.