Scott Vesant, the U.S. Secretary of the Treasury, noted that there had been 'substantial progress' in trade negotiations with China.

Reuters and AFP reported on the 11th (local time) that Minister Vesant said in a meeting with reporters after the U.S.-China trade negotiations held in Geneva, Switzerland, 'Details will be disclosed on the 12th.'

U.S. Treasury Secretary Scott McLellan (left) and USTR representative Jamison Greer meet with reporters on Nov. 11 (local time) in Geneva, Switzerland, after completing trade negotiations with China, stating that "significant progress has been made." /Courtesy of AFP Yonhap

The United States and China met in Geneva, Switzerland, starting on the 10th to negotiate mutual tariff policies under the Donald Trump administration. The delegations led by Scott Vesant, U.S. Secretary of the Treasury, and He Lifeng, Vice Premier of the China State Council, completed the second day of negotiations following a nearly 10-hour marathon session on the first day.

Minister Vesant evaluated the negotiations as 'productive.'

Jamison Greer, representing the U.S. Trade Representative (USTR), said it was 'very constructive' and noted, 'The differences with China were not as large as expected.'

Earlier that day, Howard Lutnick, U.S. Secretary of Commerce, explained in an interview with CNN that there had been agreement on many aspects of trade negotiations with China and that 'a full rerouting has been achieved.'