President Trump has said China has reached out to negotiate a deal. Another official said the administration has already been working on supply chain issues for some time in anticipation of the imposition of the tariffs.

Your Christmas decorations probably come from this one Chinese city. But anxiety is high, with vendors on the front lines of the US-China trade war.

China is facing a double whammy: corrosive deflation and tariffs that threaten to block trade. Chinese workers will be the biggest casualties.