While the Chinese government and the Trump administration have recently tried to cool down trade tensions, tariffs on U.S. agricultural products are still in effect, and Beijing's efforts to secure alternative sources continue.

Recent developments related to the deal to sell two key Panamanian ports to an American private equity company have added new complications and complexity to the situation, leading to uncertainty as to the ultimate outcome.

CK Hutchison, a Hong Kong company that owns and operates two key Panama ports, as well as many other ports across the globe, has reached an agreement in principle with private equity firm BlackRock to sell a significant portion of its port business.

The Panamanian Attorney General has weighed in on the constitutionality of his government's port contract with Hong Kong-based Hutchison Port Holdings, telling the Supreme Court it is "unconstitutional," and asking the Court "to confirm the unconstitutionality of the contract as a step toward terminating the

The China-Ecuador Free Trade Agreement (FTA) entered into force on May 1 after both sides finished their domestic legal procedures. The agreement would lower tariffs for Chinese steel and autos over time.

A Peruvian trade official stated that Peru and China will resume trade talks to upgrade their bilateral trade agreement soon, while Uruguay plans to expand exports to China with potential trade talks.

After months of negotiations, China and Ecuador signed a bilateral trade agreement last week. This makes Ecuador the fourth country in the Latin American region to have a trade agreement with China.