Beijing responded with retaliatory measures after President Trump’s announced a 10% tariff on all Chinese goods. CNBC correspondent Megan Casella reports on what this means for consumers.

The shift reflects both Xi’s success at diversifying imports away from the U.S. since Trump’s first term, as well as China’s more precarious economic situation.

U.S. President Donald Trump and Chinese leader Xi Jinping will not speak on Tuesday, a U.S. official told the Wall Street Journal, contrary to what trade adviser Peter Navarro said earlier in the day.