T he United States and China have agreed to de-escalate their trade war for an initial 90-day period. Negotiations between the two countries took place over the weekend in Geneva,

The US and China have agreed on a deal to help resolve the trade war raging between the world’s two largest economies, top Trump administration officials announced Sunday.

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

The White House said it was announcing a trade deal without providing any details. Representatives from the U.S. and China had been meeting in Switzerland.

Switzerland has moved to the front of the queue for a trade deal with the United States, U.S. Treasury Secretary Scott Bessent said on Monday, after the Alpine country hosted surprisingly successful U.

After two days of talks in Switzerland, significant progress in trade negotiations between the USA and China was announced. The delegations, led by the U.S. Treasury Secretary and the Chinese Vice Premier,

US officials met with their Chinese counterparts for the first time on Saturday to go head-to-head over President Trump’s tariff war.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

China hailed a trade agreement with the U.S. that will see both sides sharply reduce their tariffs for 90 days, calling it an "important step" that could lead to "deepening cooperation" between the world's two largest economies.

The White House has issued a statement saying the U.S. announced a China trade deal after the conclusion of talks between the U.S. and Chinese delegations in Switzerland on Sunday. But it wasn't immediately clear whether a deal had actually materialized.

Treasury Secretary Scott Bessent is poised to launch trade negotiations with China in Switzerland on Saturday.

Oil prices had plunged the lowest level in four years earlier this month as President Donald Trump's global tariff regime raised the risk of a recession that would slow demand. The lower tariff rate will remain in place for 90 days as the world's two largest economy continue to negotiate,