Trafford, 21, made 28 Premier League appearances for Burnley during the 2023-24 campaign, but he lost the number one spot at Turf Moor in the final stages of the season.
The stopper has a contract with the Clarets until June 2027, but there is currently speculation surrounding his future, with a number of clubs thought to be interested in his signature.
According to talkSPORT, Newcastle have contacted Trafford to register their interest, and the Magpies have been told that Burnley want £20m for his services.
The report, though, claims that the Magpies are only willing to part with around £12m.
Trafford, who was in England's preliminary squad for this summer's European Championship, is allegedly wanted by Newcastle to provide competition for Nick Pope next season.
Meanwhile, Atletico Madrid are allegedly determined to sign Bayer Leverkusen defender Piero Hincapie during this summer's transfer window.
The 22-year-old made 43 appearances for Leverkusen during the 2023-24 campaign, including 26 outings in the Bundesliga, as Xabi Alonso's side impressively won the title.
Hincapie has another three years left to run on his deal, but there has been a host of speculation surrounding his future in recent months, with a number of clubs said to be interested.
According to Bild, Atletico have identified the defender as a priority target this summer, with Leverkusen prepared to let him leave for around €50m (£42.5m).
The 31-time Ecuador international arrived at Leverkusen from Talleres in the summer of 2021, and he has represented the Bundesliga outfit on 119 occasions in all competitions.
Elsewhere, Celtic have reportedly signalled that Kyogo Furuhashi will not be allowed to leave the club during this summer's transfer window unless an offer of at least £25m is received.
The 29-year-old has scored 73 goals and registered 15 assists in 133 matches for Celtic in all competitions, including 19 goals and five assists in 50 appearances during the 2023-24 campaign.
The Japan international has a contract with the Scottish giants until May 2027, but a number of clubs from the Premier League are said to be interested in signing him.
According to Football Insider, Celtic will demand at least £25m before even considering allowing the attacker to leave this summer.
The report claims that the club's head coach Brendan Rodgers is determined to keep hold of Furuhashi, who is also looking to remain in Scotland.
However, substantial offers for the forward this summer would be considered by club chiefs.