However, some people cautioned that Trump has not yet made a final decision, and could enact the duties in installments, according to Bloomberg.
Trump also could announce the tariffs next week, but impose them at a later date.
The Trump administration said last month it was considering imposing tariffs on a list of $200 billion in Chinese imports.
The Office of the U.S. Trade Representative recently held more than a week of hearings with businesses and industry groups, most of which strongly opposed another round of hefty tariffs on China.
There has been speculation that the tariffs could run as high as 25 percent.
The tariffs could encompass a long list of imports, including tuna, swordfish, vegetables, nuts, fruits and various minerals.
If Trump follows through it would mean that the U.S. will have imposed tariffs on $250 billion worth of Chinese products. China has said it would retaliate with another $60 billion in tit-for-tat tariffs.
The Trump administration has already imposed 25 percent tariffs on imported steel and 10 percent on aluminum, all hitting major trading over what the president said is for national security reasons.
Mexico, Canada, China and Turkey are among the countries that have struck back with retaliatory tariffs.
Gao Feng, a spokesman for China’s commerce minister, said earlier Thursday that Beijing will only resolve its trade dispute with the U.S. through negotiations made on equal footing and in good faith.
“Dialogue and consultation based on equality and good faith is the only correct choice for resolving Chinese-U.S. trade frictions,” Feng told the Associated Press. “China will proceed with reform and opening up at its own pace.”
U.S. and Chinese officials met last week in Washington but failed to make any progress toward an agreement that would slow the slew of tariffs.
BY MEGAN KELLER AND VICKI NEEDHAM – 08/30/18