The US president is reportedly interested in hammering out a trade deal

US President Donald Trump and Chinese President Xi Jinping could meet as early as April to address the escalating trade war and other bilateral issues, the South China Morning Post (SCMP) reported on Monday, citing diplomatic sources.

The first meeting could take place in China, but discussions about the final location are still ongoing, according to the outlet's sources. Trump has reportedly shown interest in hosting Xi at his Mar-a-Lago estate in Florida, reminiscent of their 2017 meeting. However, Chinese officials favor a more formal setting, either in Beijing or Washington, DC, to underscore the significance of the talks, the SCMP reports.

Since taking office on January 20, Trump has doubled tariffs on all Chinese imports from 10% to 20%, on top of existing duties on thousands of products, citing the need to protect American interests and addressing concerns over trade imbalances. Key sectors affected include steel, aluminum, and various consumer goods.

In response, China has imposed its own tariffs ranging from 10% to 15% on US agricultural products and energy commodities. The Chinese government has also criticized Washington's approach, with Foreign Minister Wang Yi stating that such policies are bringing the world back to the "law of the jungle."

READ MORE: China accuses US of 'two-faced' policies

In February, Trump indicated that a new trade deal with China is possible and mentioned the prospect of Xi visiting the United States, though no specific timeline was provided.

Trade tensions between the US and China began during Trump's first term. In 2018, he imposed tariffs on Chinese goods, citing unfair trade practices and intellectual property theft. Beijing responded with retaliatory measures, sparking a cycle of actions that disrupted global markets and supply chains.