The United States is weighing a currency pact with China as part of a partial deal that could see a planned tariff hike next week being suspended, Bloomberg reported on Wednesday, citing people familiar with the talks.

The White House is looking to roll out a formerly agreed currency pact with China as part of what it regards as a first-phase agreement with Beijing, according to the report, which added that it will be followed by further talks on issues like forced technology transfers and intellectual property.