The young defender, who missed out on England’s Euro 2024 squad, is rated highly by the Red Devils.
Per Fabrizio Romano, the two clubs are still involved in discussions about a fee.
However, the issue is complicated by both teams having issues with the Premier League’s financial rules.
United do not want to overpay, but Everton need to sell one or two stars for big money.
Speaking on The United Stand, Romano said: "Jarrad Branthwaite remains a strong option for #mufc, as the player is keen to join. Conversations with his agents are ongoing.
‘The situation depends on Everton’s financial decisions this week, particularly regarding Financial Fair Play and player sales. Everton’s asking price for Branthwaite is around £65-70 million, which Manchester United is unlikely to pay.
‘The player is waiting for United’s decision, which will be influenced by Everton’s position."