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.

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.