Liverpool made an initial approach to Monaco over the France international's availability and had been prepared to offer more than PSG, whose most recent bid stood at around €40 million. But Akliouche, 24, has made clear his preference lies with the French champions regardless of Liverpool's financial advantage, with PSG said to have already secured his approval for a move earlier in the summer.
Monaco have rejected three offers from PSG so far and are demanding closer to €50-70 million for a player who has become one of their most important performers since breaking into the senior side in 2022.
According to L'Équipe, PSG are now preparing a fourth bid in an effort to reach an agreement before the transfer window closes. Akliouche has one goal in 10 caps for France and was part of the squad at this summer's World Cup, coming on from the bench in the third-place play-off defeat to England.
Akliouche's contract at Monaco runs until the summer of 2028, giving the French club a strong negotiating position as they weigh up their next move. He scored six goals and provided six assists in 31 Ligue 1 appearances last season, form that has made him a target for PSG for several months and established him as one of the more coveted attacking talents in France.
Liverpool's willingness to pay a higher fee than PSG has so far done little to change the player's stated preference, leaving the Reds facing the prospect of missing out on their pursuit of a Salah successor for a second time this summer, having also seen Yan Diomandé move to Real Madrid.
Monaco's asking price has been strengthened by the club's improved financial position after agreeing the sale of Aladji Bamba to Newcastle for more than €35 million, reducing the pressure on the Principality club to accept a lower fee for Akliouche.
Liverpool are due to face Monaco in a pre-season friendly at Anfield on 9 August, a fixture that could take on added significance depending on how the transfer saga develops between now and then.