President Trump Donald John TrumpBiden leads Trump by 36 points nationally among Latinos: poll Trump dismisses climate change role in fires, says Newsom needs to manage forest better Jimmy Kimmel hits Trump for rallies while hosting Emmy Awards MORE could announce wide-ranging tariffs on imported Chinese goods as early as next week, The Associated Press reported.

The tariffs could affect a large range of consumer goods, although the size and scope are yet to be finalized.

Recent reports suggest that Trump wants to target upward of $60 billion in Chinese products, which the U.S. Chamber of Commerce has said would be “devastating," the AP reported.

The White House wants to reduce the trade deficit with China. Trump tweeted earlier this month that "China has been asked to develop a plan" to reduce its deficit by $100 billion.

The tariffs would come at the recommendation of Commerce Secretary Wilbur Ross Wilbur Louis RossTrump 'very happy' to allow TikTok to operate in US if security concerns resolved TikTok, WeChat to be banned Sunday from US app stores The Hill's Morning Report - Sponsored by National Industries for the Blind - Trump seeks to flip 'Rage' narrative; Dems block COVID-19 bill MORE and adviser Peter Navarro, according to the report.

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Similarly, incoming director of the White House National Economic Council Larry Kudlow has said that China merits a “tough response” from the U.S. and its allies, the AP reported.

Trump tapped Kudlow earlier this week to replace economic adviser Gary Cohn. Cohn said he would be leaving the White House after Trump announced sweeping tariffs on imported steel and aluminum earlier this month.

While Trump has found support for his new tariffs in parts of the White House, they are largely disliked by many groups, including many members of his own party.

Republican leaders have asked the president to narrowly target any tariffs and exempt U.S. allies.

China is expected to respond to tariffs with higher import taxes on U.S. goods. Some predict that China will target goods that affect the U.S. economically and politically, the AP reported.