a) The Telegraph is a tabloid, why not link to a better news source? b) There is precedent for this sort of move, as Krugman's original article said it was done in the 70s with Germany and Japan until they raised their currency values.

Is it a good idea? It's probably a bit risky but it's got to be better than letting China continue to manipulate currency and be a drag on the rest of the world's economy. I imagine a tariff that large would probably get them to float the renminbi fairly quickly.

// Edit: I take back the tabloid comment, I was thinking of the Aussie Telegraph which is absolutely a tabloid. My point still stands, that what China is doing needs to be dealt with and that it's hardly the end of the world to put tariffs on them.