The US and China both reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating a trade war, marking what Chinese Vice Premier He Lifeng called “an important first step” toward resolving differences.

Treasury Secretary Scott Bessent reported "substantial progress," but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.