BREAKING NEWS: The United States and China trade deal, according to the NYT, was proposed by President Xi to be extended by 6 months before his U.S. visit.

Officials also say they are discussing establishing a dialogue on artificial intelligence between the U.S. and China and encouraging trade in "non-sensitive goods" such as energy and consumer products.

It is reported that China is pushing for the trade deal to be extended by more than 6 months.

U.S. markets rose to a new intraday high on the news.