China and the U.S. are trying to strike a deal before March 2. Otherwise, additional U.S. tariffs on Chinese goods could take effect.

The report comes a day after President Donald Trump said he would consider pushing back the current March deadline if it means a deal between the two countries can be reached soon. He added, however, he “would prefer not to.”

The trade tussle between China and the U.S. has sent ripples through financial markets over the past year. Investors have fretted over the impact of tariffs on corporate profits.

Neither the Treasury Department nor the U.S. Trade Representative’s office responded to CNBC’s request for comment.

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