This is a beginning, not nearly enough. Trump has told him his demands, $50B decrease in the budget imbalance, of which China responded that they would hit America with $50B in tariffs. You might recall how afraid CNN reporters were, how people threw their hands in the air in fear, "see we told you, China will crush us!"
Trump just doubled down, China riled him, he dropped the MOAB, oh ok, $100B tariffs for you then you Communist sob's. He is making the point, "do what you want, you add $50B in tariffs, we will hit you with $100B, until you get the hint, we are going to get our $50B back, one way or another".
Oh, and let's assume this continued. With a $500B trade deficit against China, it means China would run out of products in which to tariff very quickly, Trump has a long runway to use.
No more bowing down to CHina, being afraid of them, or tossing your economy to them for the global objectives. America First! If you love your liberty and Constitution, it has to be this way. This strong stance is extremely popular with voters.