China devalues their dollar causing LESS U.S. Dollars need to buy Chinese goods, which TOTALLY compensates for the tariffs added. So in effect China is being taxed by the tariffs instead of U.S. consumers.
We will feel the bite of the tariffs here in this country eventually. Some products the price will be raised to include the tariff but only on products that do not have to compete against non-tariffed goods. Look at iPhones. Apple is just moving its assembly to other country's in the region.