An identity that is reminiscent of the Littlewood identity plays a fundamental role in recent proofs of the facts that alternating sign triangles are equinumerous with totally symmetric self-complementary plane partitions and that alternating sign trapezoids are equinumerous with holey cyclically symmetric lozenge tilings of a hexagon. We establish a bounded version of a generalization of this identity. Further, we provide combinatorial interpretations of both sides of the identity. The ultimate goal would be to construct a combinatorial proof of this identity (possibly via an appropriate variant of the Robinson-Schensted-Knuth correspondence) and its unbounded version as this would improve the understanding of the relation between alternating sign trapezoids and plane partition objects.