It is already started. Both United States of America and People's Republic of China are locked their horns in the current trade war and both the countries introduced tariffs on each other.
US has already filed a petition in the United Trade Organisation with regard to China's violation of intellectual property rights. According to the section 301 of the Trade Act of 1974, the president of US can impose fines or penalties on a trading partner if it is considered to be harming US business interests.
In 2017 itself Trump opened an investigation on attacks on intellectual properties of US and its allies . There was a loss of $225-600 billion a year. US thinks that some Chinese laws work against intelligence property rights by forcing other countries to work with Chinese companies. Us also complains that China is not acquiescent in obeying legitimate patents and their policies discriminate against imported technology. Not only US but other countries like Japan, European Union, Saudi Arabia and Ukraine also filed request for consultation regarding Chinese violations.
As the Trump administration argues that the tariffs are necessary for protecting intelligence property, China is not giving in. China filed counter request for consideration against United States. China argues that US has no evidence against it. China also criticises US's export restrictions on technology products, unfair treatment of Chinese economy and unreasonable trade sanctions on China.
Chinese President Xi Jinping met former US Secretary of State Mr. Henry Kissinger earlier this week. The meeting was to reduce the tension between the two countries. Mr. Kissinger told that both US and China should apply strategic thinking and perspective to understand each other. And he also said that the trade confrontation could be resolved through talk.
Everyone is waiting eagerly for the meeting between Trump and Xi Jinping which will take place in G20 summit in Argentina at the end of this month.