The U.S. and China ended high-stakes trade talks on a positive note on Sunday, with U.S. officials touting a "deal" to reduce the U.S. trade deficit, while Chinese officials said the sides had reached "important consensus" and agreed to launch another new economic dialogue forum.

US and Chinese officials picked up trade talks again on Sunday in Geneva, right after wrapping up an eight-hour session the night before. The sit-downs, which are being held in private at the Swiss ambassador’s villa near Lake Geneva,

The Trump Administration says it has reached a trade deal with China following a meeting between top officials of both countries in Geneva, Switzerland this weekend.