WASHINGTON — Treasury Secretary Scott Bessent said Sunday that the United States had made “substantial progress” in talks with China after a weekend of meetings in Geneva, and that additional details would be announced today.

Any indication of a trade truce between the world’s two largest economies would lift financial markets and ease concerns among companies, investors and economists that the global economy was poised for a sharp downturn.

Although there were no immediate details about an agreement, Jamieson Greer, the U.S. trade representative, who joined Bessent in the negotiations, suggested that some form of a “deal” had been reached that addressed the Trump administration’s national security concerns about China’s trade practices. But Greer did not say whether the two nations had agreed to drop any of the punishing tariffs that have been imposed over the past months.

The Chinese government did not immediately provide a statement on the negotiations.

— The New York Times