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Report: Trump's advisers weigh interim trade deal with China

Top trade advisers to U.S. President Donald Trump are considering proposing a limited trade deal with China that would postpone and remove some tariffs on Chinese goods, Bloomberg News reported, citing five sources familiar with the matter.

In return, China would have to make commitments on intellectual property protection and purchases of U.S. agricultural products as part of the possible interim trade deal, the report's sources added.

The report cautioned that Trump has yet to approve the move since discussions are preliminary. A senior White House official refuted the Bloomberg News report, according to CNBC News.

U.S. Treasury Secretary Steven Mnuchin also told CNBC News in a Sept. 12 interview that Trump would only strike a trade deal that is "good" for American companies and workers, and that he stands ready to keep or even raise tariffs if necessary.

The U.S. and China are set to restart the trade negotiations in early October after another set of tit-for-tat tariffs took effect Sept. 1. Ahead of the new round of trade talks, Trump on Sept. 11 announced plans to delay tariff increases on $250 billion of Chinese imports as a goodwill gesture.

In the hopes of breaking the impasse with the U.S., China plans to limit the scope of the negotiations this time to trade issues and put geopolitical and national-security matters on a separate track, The Wall Street Journal reported, citing sources familiar with the matter.

Chinese negotiators are also preparing plans on increasing agricultural purchases, intellectual property protection, and U.S. companies' market access to China, according to the report.

Trump tweeted Sept. 12 that China is expected to buy "large amounts of our agricultural products."