Our live coverage has ended. Scroll down to read more from today's White House press briefing.
Chief economic adviser Larry Kudlow said the US may issue a "list of suggestions" as to what policies and practices it would like to see China change in order to keep the tariffs from going into effect.
He said this is under consideration, but has not yet been decided.
Kudlow said the tariffs that the President has signed off on and foreshadowed are aimed at getting China to change its behavior.
The $50 billion in tariffs that Trump authorized will not go into effect for several months, and Kudlow made clear he hopes China and the US can resolve their issues through negotiation before they go into effect.
Still, he said China should know that the tariffs are not a bluff.
"Right now, we have no tariffs," Kudlow said. "If need be, if China remains in violation...I believe the President will use tariffs."
Kudlow said Trump issued his additional threat Thursday evening of $100 billion in tariffs because China's retaliatory response to the $50 billion tariffs was "highly unsatisfactory."
Stocks pummeled by fears of a trade war with China. They’re at their lows for the day with a little more than an hour of trading to go.
The drop comes after White House press secretary Sarah Sanders said Trump doesn’t want a trade war with China.
“We don’t want it to come to that,” she said.
The Dow has also fallen back into a correction — down 10% from its all-time closing high.
The Trump administration unleashed new sanctions today against seven Russian oligarchs with ties to President Vladimir Putin along with 12 companies they own or control.
This afternoon, White House press secretary Sarah Sanders was asked if the new sanctions would affect Trump's possible meeting with Putin.
She said it shouldn't. Instead, the White House is hoping Putin would "respond positively" and Russia would "change their behavior."
"As the President has said, he wants to have a good relationship with Russia but that's going to depend on some of the actions by the Russians," Sanders said. "However at the same time, the President is going to continue to be tough until we see that change take place. And we're going to continue working forward and (doing) what we can to have that meeting and have a meeting with Vladimir Putin at some point."
White House press secretary Sarah Sanders said she would not discuss "hypotheticals" when she was asked about the future of embattled Environmental Protection Agency chief Scott Pruitt.
Pruitt has faced a number of controversies this week: the White House said it is "looking into" his housing situation amid reports that he rented a room in Washington, DC, from the family of an energy lobbyist. Meanwhile, a senator has said that Pruitt's 24-hour security in Washington allegedly extends to at least some of his personal trips.
A reporter asked Sanders what would happen if "everything that has been reported about Pruitt ends up being true."
"I'm not going to walk through hypotheticals until we have time to go through a full review. He has done a good job of carrying out the goals of the EPA," Sanders said.
President Trump ratcheted up the trade war rhetoric with China last night, saying he was considering a new $100 billion tariff plan.
White House press secretary Sarah Sanders was just asked if Trump is willing to fight a trade war.
"We don't want it to come to that," Sanders said.
Then, a reporter asked a follow up question: Does the President think that trade wars are easy to win? Is that still his view?
Watch the moment:
Today is former national security adviser Lt. Gen. H.R. McMaster's last day at the White House, press secretary Sarah Sanders said.
McMaster resigned last month and will be replaced by former US ambassador and Fox News analyst John Bolton.
She continued: "His decades-long career and service to his nation is an inspiration to us all and we know he will do well wherever he lands next. The President wishes him well. He will miss working with him but they will continue to be great friends and will no doubt be seeing a lot of each other in the years ahead."
Environmental Protection Agency head Scott Pruitt has faced a lot of controversy this week. Does the President still have confidence in him?
Speaking of Pruitt: Is Trump considering replacing Attorney General Jeff Sessions with Pruitt?
Trump said yesterday that he's considering tariffs on $100 billion more in Chinese exports. Is the White House worried about a possible trade war?
The Trump administration imposed sanctions against seven Russian oligarchs with ties to President Vladimir Putin today. What's the White House's goal with these new sanctions?
Trump skipped the White House Correspondents' Dinner last year. Why is the President skipping the dinner again this year?
Trump, at a roundtable in West Virginia yesterday, said the military will build "some" of the southern border wall. Who exactly is building the wall?
President Trump ratcheted up the trade war rhetoric with China on Thursday evening, saying he was considering another wave of steep tariffs on the country's exports to the United States. The Chinese government responded by reiterating that it doesn't want "to fight a trade war, but we are not afraid of fighting it."
Do you have a question about what all that means? Are you wondering how the tariffs could affect the US — and you?
Ask it here, and it could be answered in an upcoming CNNMoney story.