Chinese President Xi Jinping and Peruvian counterpart Dina Boluarte inaugurated a $1.3 billion port that could transform South American trade with Asia just as Beijing prepares for a potential trade war with the US.

By Eduardo Baptista, Marco Aquino and Lucinda Elliott LIMA (Reuters) -Chinese President Xi Jinping arrived in Lima on Thursday, kicking off a week-long diplomatic blitz in Latin America by inaugurating the massive Chancay deep-water port,

The port opening in Chancay underscores China’s growing clout in a region that once looked primarily to the United States for economic opportunity.

President Joe Biden will meet for a final time this week with Chinese President Xi Jinping as he prepares to hand over power — and the reins of the world’s most consequential bilateral relationship — to president-elect Trump in January.

President Joe Biden will hold talks this week with China’s Xi Jinping on the sidelines of an international summit in Peru.

President Biden is at the APEC summit in Lima, Peru, where he will meet with China's Xi Jinping. CBS News' Natalie Brand has the latest on the significance of the meeting and more details on President-elect Donald Trump's chat with Mr.