China plans tariffs on 3B worth of US goods after Trump order.https://www.upi.com/Top_News/World-N...1951521725671/
I'm among the proponents of USA adopting the trade policy described within Wikipedia's “Import Certificates” article. It would if not entirely eliminate, significantly reduce USA's chronic annual trade deficits of goods.
Our current and no other existing or proposed national trade policy could accomplish this as well for the USA, and with lesser increases of prices to USA purchasers of imported goods, and with no net costs to U.S. federal budgets. Regardless of other nation's responses, this policy would increase USA's GDP and numbers of jobs more than otherwise.
Annual trade deficits are always net detrimental to their nations' GDP and drag upon their numbers of jobs.
Unlike tariffs, a USA Import Certificate policy could not be used to enable our federal government to discourage a particular foreign nations' or any enterprises' types of goods from being imported into the USA. The policy cannot effectively prevent any goods for which there's an effective USA demand, from being imported into the USA. Within Import Certificate laws, all foreign nations and all types of globally traded goods are treated equally.
Nations' are effectively driven to respond against insulting tariffs with less or no regard even for consequences to their own economy.
Refer to Wikipedia's “Import Certificates” article.