Chinese Vice Premier He Lifeng, Beijing’s lead person for trade talks with the US, said that both countries had reached a consensus in Geneva to de-escalate the “damaging” tariff war, urging Washington to broaden the scope of cooperation between the two.

The announcement on He’s official X handle comes after US Treasury Secretary Scott Bessent told reporters on Sunday — following his high-level meeting with the Chinese Vice Premier — that the details of the new trade deal struck between Beijing and Washington would be made public on Monday.

After two days of negotiation with Bessent and other top US officials, He wrote on X: “The two sides have agreed to establish an economic and trade consultation mechanism to maintain communication on their respective concerns in the economic and trade fields.”

“China and the US should find proper solutions to the problems through equal dialogue and consultation, explore more potential for cooperation, extend the list of cooperation, and make pie of cooperation bigger,” he added.

Earlier, US Trade Representative Jamieson Greer, who was also present during the talks with Bessent and Chinese delegates, revealed that the “differences were not so large as maybe thought,” reported international news agency Reuters.