Meanwhile, economists are concerned that US tariffs on China will have negative impact on the US economy, and will increase the pressure on US consumers.

BRIAN PECK, DIRECTOR CENTER FOR TRANSNATIONAL LAW AND BUSINESS, USC "In the initial responses I've seen publicly stated, there are major US manufacturers and retailers like Amazon and Walmart and others, that depend a lot on imports from China, and they are concerned, because this will have a major impact on the economy and not only on raising the cost of goods either for production or for consumers in the US. And so the escalation of a trade war runs the risk of having a significant detriment to the US economy."

NICHOLAS LARDY, SENIOR FELLOW PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS "I think there's no doubt it will be negative. You can't gain from imposing tariffs. That's almost impossible. Consumers will pay a lot more. And, take some of the products for example, if you look at consumer electronics, the products that are coming from China in many cases have not been produced in the United States for many years, and the production of those products is not going to come back to the United States in response to a tariff."