China, which Trump announced will get hit with a 10 percent tariff starting Tuesday, will reportedly have a call with the White House soon. Early Tuesday, Beijing announced a 15 percent levy on certain types of coal and natural gas, and a 10 percent tariff on various vehicle parts, machinery, and crude oil.

China, Russia and other countries have developed retaliatory options that could deeply hurt America’s economy and standard of living.

China is subject to significant US tariffs already and has been since Trump's first term. But the blanket nature of today's new levies from the White House on every single goods import from China - from toys, to mobile phones, to clothes - is new and significant.