Trump to hit China with $60 billion tariffs by Friday - Washington Post

President Trump is set to unveil this Friday a package of $60 billion in annual tariffs against Chinese products, according to Washington Post. 

If imposed, China could retaliate with its own set of targeted tariffs. Experts believe China can zero in on top US exports such as soybeans. Further, an argument is being put forward that imposing tariffs on China will have little impact on US global trade deficit as importers will likely switch over to other low-cost export houses like Bangladesh or Vietnam.