All the latest summer transfer news from Anfield...
The Reds may have already added to their attacking options in Danny Ings, Christian Benteke and Roberto Firmino, but it seems that manager Brendan Rodgers is keen to bring one more in this summer.
Winger Traore, 19, has come up through the ranks at Barcelona's famous La Masia academy, but has played just four games for the Barcelona first team.
Now, with the pacey Spaniard keen to play at a higher level than Barcelona's B team, Traore is travelling to Merseyside ahead of a medical with the Reds, according to Sport - but it isn't stated whether the deal will be a permanent or loan move.
Meanwhile, the Liverpool Echo report that Wolverhampton Wanderers are hoping to secure Reds teenager Sheyi Ojo on a season-long loan deal.
The winger, who spent time on loan with Wigan Athletic last season, needs first team experience this season, and the 18-year-old could make his way to Molineux to play on a regular basis.
Finally, Liverpool have also confirmed on their official website that defender Lloyd Jones has extended his loan spell with League One side Blackpool until next summer.
The 19-year-old centre back had initially joined the beleaguered Tangerines on a short-term loan, but he will now spend the whole season at Bloomfield Road.