Top US officials involved in high-level trade negotiations with China emerged from two days of talks touting “substantial progress” and appearing to confirm that a deal between the two countries had been reached,

Treasury Secretary Scott Bessent and Jamieson Greer, the United States Trade Representative, are leading the talks for Washington. For Beijing, the negotiations are being led by He Lifeng, China’s vice premier for economic policy. The tariffs effectively cut off trade between the world’s two largest economies.

By Emma Farge and John Revill GENEVA (Reuters) -Talks between U.S. and Chinese officials continued into their second day in Geneva on Sunday, as both sides discussed how to de-escalate the trade war that threatens to inflict major damage on the world economy.