White House officials indicated they were eager to negotiate, even as they insisted the U.S. would not unilaterally lower the duties without concessions from the Chinese.

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,

Geneva trade breakthrough surprises investors as U.S. and China move quickly to resolve $1.2 trillion deficit.