Meanwhile, some US experts also voiced their concerns over Trump's decision, saying the new tariff measures may come at a costly price for the US.

SHARYN O'HALLORAN POLITICAL ECONOMY & INT'L TRADE PROF., COLUMBIA UNIV. "These tariffs could have an unintended consequence of raising US goods and increasing, or if we say, decreasing US competitiveness abroad. The long-term effects of these tariffs is what you would anticipate that if US goods aren't as competitive abroad and that if we have to change our supply chain and start looking for lower cost goods elsewhere – which is not China but maybe we're looking at Vietnam and so forth – that has a lot of costs because we've already put, I mean, if you think of Foxconn and Apple, and those types of supply chain relations, those are huge investments that they developed; a huge capital investment. So, that's going to cost sometimes billions of dollars to reinvest and capitalise different plants elsewhere for US firms."

MARY LOVELY, ECONOMICS PROF. AND FELLOW PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS "If the things that go inside your cell phone are taxed more heavily, it's very likely that you are going to see a higher price when you go to the store to buy a new one. Well the farmers have already made their investments and they would lose their largest customer, so they will have to find other places to sell. Now, the Chinese on some reports have already reached out to the Brazilians, the Argentinians, they will find other sources of supply."