U.S. negotiators said Sunday that “substantial progress” was made and “perhaps the differences weren’t so large” after two days of negotiations with a high-ranking Chinese delegation on ways to

Scott Bessent, the US Treasury Secretary, finished a two-day negotiation marathon with Chinese Vice Premier He Lifeng in Geneva on Sunday, landing what he called “substantial progress” in a deal meant to tone down the aggressive trade war between the two countries.

The Treasury secretary cited progress and promised more details Monday. Beijing said the two sides agreed to start a formal negotiation process.