China and the United States announced a truce in their trade war on Monday after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday. The United States is dropping the extra tariffs it imposed on China this year to 30% from 145%,

Details of a trade deal between the United States and China have been announced. Hamas is set to release Israeli-American hostage Edan Alexander from Gaza. The United States and China said Monday they have agreed a deal to slash reciprocal tariffs as the world's two biggest economies seek to end a trade war that has put financial markets on edge.

European shares rose on Monday, as investors welcomed signs of progress in U.S.-China trade talks aimed at cooling a trade war between the world's two largest economies and dispelling some of the uncertainty clouding financial markets.

The White House has issued a statement saying the U.S. announced a China trade deal after the conclusion of talks between the U.S. and Chinese delegations in Switzerland on Sunday. But it wasn't immediately clear whether a deal had actually materialized.

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