In the summer of 2018, when former President Donald Trump launched a trade war with Beijing, the Chinese economy was gaining on the United States, and popular opinion suggested it could soon become the world’s largest.

Despite the upbeat message, the threat of higher tariffs, following on increases during Trump’s first administration and additional hikes in import duties by the administration

For the second largest economy, China, a big source of concern is tariffs against Chinese products. During the campaign trail, Trump had stated that he would impose at least 60% tariffs on Chinese imports and 20% tariffs on imports from all other countries.