The US-China deal under negotiation is likely to bear similarities to the phase one trade agreement from Donald Trump's first term, according to a former senior official in that administration - offering clues to what the highly anticipated pact may look like just weeks before a trade truce between the two rival economies is set to expire.

Donald Trump has said the US has reached a trade deal with Indonesia that will result in the south-east Asian nation paying a 19 per cent tariff on its exports to the US and buying American energy and Boeing jets.