AC Milan has made a new offer to the Dragons for signing the Iranian striker.
Taremi is preparing to complete his third season with FC Porto.
Porto president Jorge Nuno Pinto da Costa is not going to sell his star ahead of the new season.
Taremi helped Sergio Conceicao's team win the league title last season by scoring 26 goals and providing 16 assists.
Taremi has a contract with FC Porto until 2024 and a release clause of 60 million euros.