Beijing and Washington, D.C., imposed matching tariffs last month on $34billion apiece of each other's products and have plans to add $16 billion worth of goods to their lists.
Trump earlier proposed 10 percent tariffs on an additional $200 billion of Chinese imports.
The polar fortunes of the U.S. agricultural industry cut off from Chinese markets and Chinese electronics firms cut off from the USA market makes it clear that in an ever more inter-connected world, while a trade war is mutually detrimental to all "combatants", in the specific case of China and the United States it is American producers that are clearly worse off than their Chinese counterparts in other industries. Cheniere Energy Inc., which began exports in February 2016 from a USA gas market glutted with the fuel, fell on the news.
"Virtually nothing has happened in a trade dialogue with China in a month or six weeks", Kudlow said.
If it's the United States versus China, we're similar-sized economies.
This could drive US importers to stop bringing in certain goods because they are too costly, hurting the foreign manufacturers, but those foreign companies do not pay the tariffs, and neither do the foreign countries where those companies are based.
China's state media on Monday lashed out at the policies of U.S. President Donald Trump in an unusually direct attack, accusing him of "starring in his own carefully orchestrated street fighter-style deceitful drama".
President Donald Trump this week ordered officials to consider imposing a 25% tax on $200 billion worth of imported Chinese goods, up from an initial 10% rate.
The rising tensions have weighed on Chinese stock and currency markets, with the Chinese yuan falling against the dollar. "Don't underestimate President Trump's determination to follow through", Kudlow said in a Bloomberg Television interview. The president is not about to back down.
"For decades, our politicians allowed other countries to steal our jobs, plunder our wealth, and loot our economy", Trump said.
Still, two senior diplomats did meet earlier on Friday, on the sidelines of a regional summit in Singapore. "Trump is not just a businessman, he's actually a reform-minded leader ... now, the signs are there that the two sides will start talking again, but they will be cautious".
Earlier this year, the U.S. also started charging levies on the imports of steel and aluminium from the European Union, Mexico, and Canada. "But actually, as journalists have noted, how can talks take place under this pressure?"
China sells goods each year to the United States worth almost four times as much as it buys.
In Friday's announcement, China said it is readying tariffs on U.S. items that include agriculture and energy products, leather and machinery. LNG's inclusion marks a deployment by Beijing of one of its last major weapons from its energy and commodities arsenal in its fight with Washington. That's a negligible amount for China, which imported 17 million tons total past year, according to the U.S. Census Bureau. This would impact $200 billion worth of Chinese imports into the United States annually. The amount could be even larger if the United States resolves a logistics bottleneck.
A piece in the Global Times, a tabloid run by the People's Daily, described the retaliatory measures as "rational" and insisted China "will not rush to compete with United States numbers". China imported $130 billion in goods from the U.S. in 2017, according to United States figures.