China has more leverage than America in a trade war, that's why they are so cocky.
Trumpโs tariffs may hurt, but this time China holds more cards โ and could turn the pressure into a strategic advantage.
theconversation.com
China is not reliant on the US as an export market and US is more reliant on Chinese imports which they can't easily replace.
Unlike the US , China has a complete control of it's supply chain.
And who can forget this
en.wikipedia.org
All Trump is doing with these Tariffs is creating strategic opening for China by eroding US geo-political hegemony to call the rest to their side.