US China trade war heating up—relations have reached the point of no return

In a sharp escalation of a trade war that began with his predecessor Donald Trump, US President Joe Biden’s administration recently unveiled a new set of tariffs on Chinese goods, including a quadrupling of the tariff on electric vehicles (EVs) that brings the rate to 100%. It did not take long for China to retaliate by launching an anti-dumping probe into chemical imports from the United States, the European Union, Japan, and Taiwan. Have US-China economic relations reached the point of no return?