For future reference the giant trade deficit has benefited the USA enormously and increased quality of of life of most Americans. The incredible thing here is not that we import so much from China but that the hyper-productive Chinese exporters and manufactures have been so willing to surrender real goods and labor for the green pieces of paper we call currency which the government can create at the push of the button. This was the trade of the century.
I suspect that this will ultimately only help China and hurt America. China will be forced to develop their own internal markets and diversify their exports more -- which they've been doing already. You'll also just see more action from other low wage exporters like Vietnam. In the end Americans will just as price increases. Tariffs won't bring back jobs, reduce the extreme inequality that's killing the country nor are they real investment.