President Trump plans to impose 25 percent tariffs on $200 billion worth of imported Chinese goods, a report said on Tuesday.

The new levies would escalate trade tensions with the foreign power and add to a 25 percent tariff already imposed on $34 billion of Chinese imports in July.

The tariffs would affect food, chemicals, steel and aluminum and consumer goods ranging from dog food, furniture and carpets to car tires, bicycles, baseball gloves and beauty products.

The administration could announce the tougher proposal as early as Wednesday.

Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent US business groups have condemned Trump’s aggressive tariffs.

Trump has said in the past that “Trade wars are good and easy to win.”