GENEVA—Officials from the U.S. and China wrapped up their weekend, high-stakes trade talks, with Beijing saying the two sides agreed to start a formal negotiation process and Washington touting progress toward a deal.

Treasury Secretary Scott Bessent expressed optimism about continuing trade negotiations with Chinese officials after meeting in Geneva, with plans to meet again in the next few weeks to hash out a

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