The discussions could help stabilize world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get final word on tariffs.

The lead U.S. negotiator in trade talks with China cited “a great deal of productivity” in resolving differences between the world’s two leading economic powers after officials

The White House said it was announcing a trade deal, without providing any details. Representatives from the U.S. and China had been meeting in Switzerland.