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

The U.S. and China had “productive” trade negotiations over the weekend, U.S. officials said Sunday, without announcing any further details.

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 ease a trade war sparked by President Donald Trump's steep tariffs.