The United States and China are close to finalising the details of a new trade agreement ahead of a much-anticipated meeting between their leaders in South Korea this week, a senior US official said on Sunday.

“We’re moving forward to the final details of the type of agreement that the leaders can review and decide if they want to include together,” US Trade Representative Jamieson Greer told reporters during a visit to Malaysia.

The comment signals progress in negotiations between the world’s two largest economies, raising hopes for a breakthrough when the two leaders meet later this week.