U.S. President Donald Trump, and his Chinese counterpart Xi Jinping during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Nov. 9, 2017.

President Donald Trump is thinking about extending an early March deadline for the U.S. and China to reach a trade deal, Bloomberg News reported late Wednesday.

The extension would push back the deadline by 60 days, the report said. The world's largest economies are currently in talks to strike a trade deal by March 2. If a deal is not reached, additional U.S. tariffs on Chinese goods could take effect.

The Bloomberg report comes a day after Trump told reporters he would be open to postponing the deadline but "would prefer not to."

A U.S. trade delegation led by Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer is in Beijing as the negotiations continue. The delegation is reportedly scheduled to meet with Chinese President Xi Jinping later this week.

Market sentiment around U.S.-China trade negotiations has turned markedly positive recently. This week, the major U.S. stock indexes are all up at least 1 percent as investors bet a deal will get done.

Click here to read the full Bloomberg report.

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