Michael Pillsbury, an adviser to the president, said he spoke with Mr. Trump, who said the deal calls for China to buy $50 billion worth of agricultural goods in 2020, along with energy and other goods. In exchange the U.S. would reduce the tariff rate on many Chinese imports, which now ranges from 15% to 25%.

Michael Pillsbury, a Hudson Institute expert who advises the Trump administration, said he believed the statement from China’s Commerce Ministry “may represent wishful thinking on the Chinese side more than a specific agreement.”

US-China Trade Talks Obstacles - Michael Pillsbury said, “In China, the hawks don’t want a free market and they want a more assertive China. On the American side, the base wants not to be ripped off or taken advantage of by China.”