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The announcement comes after Larry Kudlow, director of the National Economic Council, told Becky Quick, of CNBC, that Trump was "not happy" with the trade talks with Beijing.
The Wall Street Journal reported earlier that Trump would go ahead with tariffs on $ 200 billion worth of Chinese products. The report followed other media reports that US officials were trying to revive trade talks between the United States and China.
Fears of escalating trade tensions between the United States and China have destabilized record prices recorded last month. The S & P 500 and Nasdaq Composite reached record highs until the end of August. This month, however, both indexes fell by 0.4% and 2.6% respectively until Monday's close.
Major indices all fell on Monday as the Dow Jones lost nearly 100 points. The S & P 500 and Nasdaq declined by 0.6% and 1.4%, respectively.
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