President Donald Trump confirmed on Monday that additional tariffs on Chinese goods will be levied if Chinese President Xi Jinping does not attend this month's G-20 meeting.

When asked during a telephone interview if that means the new tariffs would go into effect immediately, Trump told CNBC's Becky Quick, "Yes, it would."

The president previously threatened to put levies on another $300 billion in Chinese goods if a trade agreement is not reached soon. The Trump administration increased tariffs last month on $200 billion worth of goods the U.S. imports from China.