U.S. President Donald Trump is ready to increase trade tensions with China, telling aides he wants to impose tariffs on $200 billion more in Chinese imports after a comment period ends next week, Bloomberg News reported on Thursday.
The White House declined comment on the Bloomberg report.
The report, which cited six unidentified sources, pressured markets. The S&P hit session lows and U.S. Treasury yields fell.
Some sources said Trump had not made his final decision, the report said.
The world`s two largest economies have already applied tariffs to $50 billion of each other`s goods in a tit-for-tat trade war. Talks aimed at easing tensions ended last week without major breakthroughs.
The new proposed tariffs would affect consumer products including home building supplies, technology products, bicycles and apparel.
A public comment period on the proposal is set to end on Sept. 6, and Trump plans to impose the tariffs after that deadline, Bloomberg said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)