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flag US and China claim progress in trade talks, agreeing on new dialogue and consultation mechanisms.

flag The US and China concluded trade talks in Geneva with both sides expressing optimism and describing discussions as "constructive." flag US officials claimed a "deal" was reached to reduce the US trade deficit, while Chinese officials stated they reached "important consensus" and agreed to launch a new economic dialogue forum. flag Details of the agreement are expected to be released on Monday. flag The two countries also agreed to establish a new consultation mechanism for trade and economic issues.

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