The United States and China announced that they have agreed to temporarily lower tariffs, after a weekend of marathon negotiations in Geneva, Switzerland.

Newsweek has contacted the White House and the Chinese Foreign Ministry for comment. President Donald Trump raised U.S. tariffs on China to a combined 145 percent, prompting the Chinese to retaliate with a 125 percent levy on American imports.

Trade talks between the U.S. and China resumed in Switzerland on Sunday as President Trump took to social media to say "great progress" was being made. Trump said in a post late Saturday that the weekend talks were going well, with "many things discussed, much agreed to."