《大国博弈》系列第七十一篇：特朗普第一任期，中美交锋全复盘

Group 1: Initial Actions and Trade Tensions - In 2017, Trump implemented significant policies including tax cuts, withdrawal from international agreements, and immigration restrictions, despite facing internal opposition[1] - The initiation of the 301 investigation in August 2017 marked the beginning of large-scale trade tensions between the US and China[19] - In April 2018, the US announced a tariff list targeting $50 billion of Chinese imports, primarily affecting machinery and electronics[2] Group 2: Negotiation Phases and Tariff Increases - The first round of negotiations saw the US increase tariffs on $200 billion worth of Chinese goods, with a planned increase from 10% to 25% in January 2019[30] - By May 2019, the total value of US tariffs on Chinese goods escalated to $250 billion, impacting a significant portion of China's exports to the US[30] - The second round of negotiations included threats to impose tariffs on an additional $550 billion of Chinese imports, reflecting escalating tensions as the 2020 election approached[48] Group 3: Economic Impact and Market Reactions - The trade tensions led to a notable decline in US agricultural exports to China, particularly affecting swing states during the 2018 midterm elections[22] - The Chinese manufacturing sector faced significant pressure, with investment intentions negatively impacted by the ongoing trade disputes[30] - Market reactions were sensitive to developments in US-China relations, with stock indices reflecting changes in negotiation outcomes[25]