CNBC's Eunice Yoon adds a detail

Yoon reports -- citing sources -- that the US offer to China on trade "is true" but also adds that the snapback provision to re-impose tariffs is two-way so that China will also have the option if the US breaks its promises.

What's still not clear is what tariffs the US is demanding that China remove.

Eunice Yoon tweet

Update: a second tweet from Yoon is a bit less enthusiastic and says that it will be tough for China to agree to hard targets on purchases because of WTO rules.