Geneva: The United States announced the conclusion of a trade agreement with China, following two days of “constructive” bilateral talks in Geneva, Switzerland. “I am pleased to announce that we have made significant progress in the important trade talks with China,” US Treasury Secretary Scott Besant said in a statement issued by the White House. The Secretary confirmed that details of the agreement will be announced later today.

According to National Iraqi News Agency, US Trade Representative Jameson Greer declared that the meetings were “very constructive,” explaining that the speed with which an agreement was reached reflects that the differences between the two sides were not as fundamental as previously thought. Greer indicated that this agreement comes in light of US President Donald Trump’s declaration of a national emergency due to the large US trade deficit, which exceeds $1.2 trillion, and the subsequent imposition of tariffs.

The White House confirmed that a comprehensive briefing on the agreement will be held on Monday, with the attendance of senior officials involved. US President Donald Trump described the talks in Geneva with China yesterday in a post on the Truth platform as “very good,” describing them as a “complete reset” negotiated in a friendly but constructive manner.

The talks between China and the United States are the first face-to-face meeting between high-level officials from the two countries since Trump imposed additional tariffs of up to 145% on Chinese goods last month, in addition to the existing tariffs. Beijing responded by imposing 125% tariffs on US products, which led to a significant decline in trade between the two countries and caused severe disruptions in global markets.