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 temporary truce in the U.S.-China trade war, announced on Monday, would not help U.S. farmers revive soy sales in China as Chinese duties, even reduced to 10% from 145%, remained too high to make U.S. soybeans competitive, AgResource President Dan Basse told Reuters.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.