The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The agreement came together sooner that most observers expected after Trump's 145% tariffs on China virtually halted $600 billion in annual trade between the world's two largest economies.

The White House says that it reached a trade deal with China as the two countries negotiated for a second day in Switzerland. China has yet to comment on Sunday's talks.