The Chinese exports to US is running at record high levels for months together, while the US exports to China are stagnating. That is resulting in billions of trade shortfall for the US with China every month.
The US government cannot afford this to continue anymore, and we can expect some major fire works in the coming months. The US might be forced to look at special measures like special import duties on Chinese products coming into US and also blocking high technology exports of US into China. China , given the history, could try to stall every aggressive move of the US, and the fighting is going to be really tough and bleeding for both sides.