(CNN) — President Donald Trump says he’s poised to slap additional tariffs on $267 billion in Chinese goods, widening a trade war between the two countries.

The Trump administration has already imposed tariffs of $50 billion on Chinese imports and is considering imposing $200 billion more.

READ MORE: Chicago Weather Alert: Runner Training For Boston Marathon Braves The Snow Along Chicago's Lakefront

On Friday, the president told reporters aboard Air Force One that those tariffs “will take place very soon depending on what happens.”

READ MORE: Chicago Weather Alert: Dangerous Driving Conditions With Snow Causing Low Visibility For Friday Commute

“I hate to do this, but behind that there is another $267 billion ready to go on short notice if I want,” Trump said.

China has responded to the tariffs with equal measure.

MORE NEWS: Chicago Weather Alert: City Deploys Over 200 Plows Amid Lake Effect Snow

© 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved.