China went ahead and immediately levied retaliatory tariffs on the U.S.

U.S. Trade Representative Robert Lighthizer called the Trump administration's response an "appropriate" one and said China's retaliatory measures were "without any international legal basis or justification." REUTERS: U.S. President Donald Trump is preparing to publish a list of an additional US$200 billion in Chinese products to be hit with tariffs, Bloomberg reported on Tuesday, citing two people familiar with the matter, in the latest step in the trade skirmish between the world's two biggest economies. A senior White House official told CNBC that the reason for the $200 billion figure was that it’s “roughly equal to their exports to us.” Adding $200 billion in goods to the list of existing tariffs would bring the total value of tariffed goods to $450 billion—just shy of the $505 billion in exports that China sends to the U.S. Trump had threatened this level of escalation as early as last week, before the current tariffs even went into effect.
The Office of the United States Trade Representative releases a list of approximately $200 billion worth of Chinese goods to be affected in its next round of tariffs.