Under the proposed agreement, China would commit by 2025 to buy more U.S. commodities, including soybeans and energy products, and allow 100 percent foreign ownership for U.S. companies operating in China as a binding pledge that can trigger retaliation from the U.S. if left unfulfilled, the people said on condition of anonymity because the talks are private.

Stocks in Asia were mixed in early Thursday trading after American equities edged up to a six-month high, as investors look for signs of progress. The offshore yuan held at 6.7131 per dollar.

Other non-binding promises China has offered to implement by 2029 wouldn’t be tied to potential U.S. retaliation, they said, without elaborating.

— Read on www.bloomberg.com/news/articles/2019-04-03/u-s-said-to-set-2025-target-for-china-to-fulfill-trade-pledges