Correction: Tariffs are still in their preliminary stages. They are not scheduled to go into effect until August 30th. In addition, it appears that the US Congress is working on a bill to stop these tariffs which appears to have widespread bipartisan support.

https://www.zerohedge.com/news/2018-07-10/us-equity-futures-tumble-us-readies-200-billion-china-tariff-list?page=2#comment-11985856