China-US trade war concept - Military Battle on China and American Flags GettyIn 1971, United States and China broke the ice and formed an enduring relationship. The United States, instead, enacted tariffs on China. Bilateral commerce between the United States and China reached $600 billion before the trade war. China, for example, imported $254 million in liquefied natural gas, or LNG, from the United States in January 2018. Nearly a third of the U.S. economy is tied to trade and about 5% had been linked to China before the trade war erupted.

Source: Forbes May 07, 2020 12:50 UTC