Trump Says China Trade Announcement Coming After Market Close

(Bloomberg) -- President Donald Trump said he’ll make an announcement on China trade after U.S. financial markets close Monday.

His administration is planning to announce 10 percent tariffs on as much as $200 billion in Chinese goods as soon as Monday, according to five people familiar with the matter.

“Right after close of business, we’ll be announcing something,” Trump told reporters at the White House. “And it will be a lot of money coming into the coffers of the United States of America. A lot of money coming in.”

Trump didn’t otherwise elaborate on the announcement, which he described after complaining about the U.S. trade deficit with China.

Trump said there is a “good chance” the U.S. and China would be able to resolve a burgeoning trade war.

“They want to make a deal,” Trump said. “But from our standpoint, it has to be fair. It has to take care of our workers.”

©2018 Bloomberg L.P.