The White House said it was eyeing tariffs on semiconductor chips, which control electrical currents and are used in computers, cell phones and cars.

China, which has vowed to fight Trump's protectionist measures, faced even higher levies after it imposed retaliatory tariffs. Now the US and China are locked in a trade war, with US goods hit with 125% tariffs, and Chinese goods looking at 145% .

Trump added he would delay a deal on TikTok until the trade issue with China is worked out. He told reporters U.S. tariffs on Chinese goods might not go higher and may even go lower.