The Swiss international was a key part of his national team's World Cup, as he scored the winning goal against Serbia in their last group game to send the team through to the last-16 where they lost to Sweden.
The former Bayern Munich player made it clear that he wanted to leave Stoke after they were relegated from the Premier League last season, leading to Liverpool making a £13.5 million offer to release him from his contract with the 'Potters'.
Liverpool have already made an effort to strengthen their midfield in the transfer window, adding Fabinho and Naby Keita for a combined £97 million, but Shaqiri offers a more creative and attacking threat than the team's marquee signings.
The winger joined Stoke from Italian giants Inter Milan in 2015 in a move that was seen as a real coup for the club at the time.
He went on to make over 80 appearances for the club, but was sometimes criticised for a lack of effort and commitment on the pitch last season as his side slipped out of England's top flight.
Jurgen Klopp's desire to sign the player shows his recognition that the squad's depth needed to be improved, as was exposed by their long season last year as they failed to cope with injuries on the way to the Champions League final.