The trade war between the US and China, the world’s two largest economies, may soon see a resolution as both countries have reached an agreement. This announcement was made by top Trump administration officials on Sunday.

Although specific details of the deal were not disclosed, it was mentioned that more information would be made available on Monday. The negotiations took place in Switzerland over the weekend.

US Trade Representative Jamieson Greer highlighted that the US faces a significant $1.2 trillion trade deficit, leading to the declaration of a national emergency by the President. Greer expressed confidence that the agreement with China would contribute to addressing this urgent economic concern.

President Trump has imposed tariffs of up to 145% on goods from China, with China slapping retaliatory tariffs on American exports.

Greer joined Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng for the talks in Geneva, Switzerland, over the weekend to address the triple-digit tariff.

“I can tell you that the talks were productive,” Bessent teased.