In response, China announced a proposed list of 128 products imported from the United States, valued at about $3 billion as the target for the "tit for tat" tariffs, followed by a further list of 106 products with an import value of $50 billion which would face a 25 per cent tariff in retaliation for the second wave of tariffs. However, there are several points worth noting, including how current accounts are measured and what factors really drive current account deficits. Second, the current account deficit may not indicate competitiveness levels but rather a low level of national savings relative to investment.