As president donald trump has a habit of pointing out, China sells a lot more to America than the other way round. It ran a trade surplus of nearly $300bn last year. The gigantic 145% levy Mr Trump has slapped on most Chinese goods in response is clearly hurting Chinese exporters. But importers are being affected, too. Last year China bought $145bn-worth of stuff from America. And after China’s own tit-for-tat tariff rises, these goods are now subject to a 125% levy when they enter the country—enough to make many American goods unaffordable.