The U.S. and China are close to a trade deal that could lift most or all U.S. tariffs, according to multiple reports.

The Wall Street Journal reported Sunday that the two sides are in the final stages of negotiating a deal that would involve the lowering of Chinese tariffs on a range of US goods if the Trump administration removes broad sanctions against Beijing.
According to the paper, both sides believe talks have progressed far enough that Trump and Xi could reach a formal agreement at a potential meeting around March 27.

The article listed a range of elements the potential trade deal may cover, including lower Chinese tariffs on US agricultural, chemical and auto products, as well as the continued removal of barriers to foreign investment. In addition, the pact that would largely require Beijing to make big purchases of American agricultural and energy goods and to lower some barriers that prevent American companies from operating in China.

The two sides are still seen as far apart around alleged forced transfer of technology and intellectual property protection.

US President Donald Trump and Chinese leader Xi Jinping are expected to meet later this month to end the year-long trade war.