"The $200 billion we are talking about could take place very soon depending on what happens with them".
Bloomberg News reported Friday that administration officials are discussing using an executive order that authorizes US officials to impose the sanctions on those taking part in "malicious cyber-enabled activities".
Mr. Trump claims that China's trade policies are unfair, including the widespread practice of requiring foreign companies operating there to share intellectual property.
Signs have been growing in recent weeks that Trump wants to focus his ire on China, which he has repeatedly accused of trading unfairly.
Meanwhile, Trump is now hinting at a new trade rumble with Japan. The US and European Union announced a trade truce in July, promising not to impose new tariffs on each other. The president earlier this week signalled an agreement with South Korea was close to finished.
Speaking in a television interview, White House economic advisor Larry Kudlow said that the administration would be reviewing the roughly 6,000 comments members of the public had made to the US Trade Representative on the $200bn proposals before deciding on how to proceed with the tariffs. Kudlow's comments indicated the United States is looking for a deal with China to end the trade war between the world's two biggest economies.
However, Treasury Secretary Steven MnuchinSteven Terner MnuchinRussia warns U.S. of possible Syria attack in area with USA troops: report United States sanctions allies of Syria's Assad amid fears over Idlib attack Pelosi: Trump's reaction to op-ed a "manifestation of his instability" MORE, whose department would implement the sanctions, opposes the move and has stopped the measure from moving forward, according to Bloomberg. The administration should cease further tariffs actions and give another shot at talks for a trade deal with China, it said. "People have been saying, 'I'm too tough on Canada, '" he said. "Now, they've got to treat us fairly".
The Nasdaq 100 Index capped its worst week since March as Apple slumped on its warning that the Trump administration's musing over levying virtually everything imported from China would hit a broad range of its products. "We want lower (trade) barriers across the board". "Punishing my children for the crimes of my neighbors seems like a ridiculous thing for all of us to think it would be effective".