The United States and China are set to announce details about progress made on a trade deal after officials from the world’s two largest economies engaged in a weekend of marathon negotiations in Geneva,

The U.S. and China announced on Monday that tariffs against one another will be reduced for an initial 90-day period after officials held trade negotiations in Geneva.

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.