I'm curious to see where it all goes. So far, there has been a pattern: Trump threatens tariffs, the target of the threat puffs up its chest and makes threats in return... and then steps back and asks to sit down and talk. China decided to raise the stakes, and Trump is holding his ground. It's basically a game of chicken, and it should tell us a lot about where each nation really believes that it stands economically.
The USA is insanely wealthy and --in spite of our constant attempts to set fire to our own future-- still buys a heck of a lot of things from around the world, which helps other nations to keep money flowing in. It's no accident that there has been such an unbalance in tariffs all this time-- the default setting, as it were, heavily favors the US. Trump is seeking to upset that balance, which will happen one way or another with effects that won't be seen right away (aside from predictable stock market fluctuations).
Thus, the question is... do the economists who are advising him know what they are doing, or are they in for a very painful lesson? They have a fairly short time to learn and --if necessary-- correct course, if they want to avoid a rebalancing of congressional control in 2026.