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An adult perspective:

"Sino-US trade war mainly affects these areas
2018/3/23 10:11:39 Source: China Gold

U.S. Increases Trade Protection for China
U.S. President Trump signed a memorandum indicating that it will take measures to limit China’s investment and impose tariffs on China’s annual import of 500-60 billion U.S. dollars. We briefly comment on the following:
The trade war may lead to a double-lost situation, but it should not be too exaggerated. After Trump was elected as President of the United States, he continued to pay attention to the possibility and impact of the Sino-US trade war (see “The Sino-U.S. Trade Opportunity and the Impact”, “The Sino-U.S. Trade Friction: Possible Areas, Possible Impacts”). And the “Sino-U.S. Trade Relations Analysis” at the beginning of March this year. Trump has advocated a U.S.-preferred strategy since he began his campaign, arguing that the U.S. has been damaged by past global trade rules. This year is the mid-term election year in the United States. The political situation in the country is complicated. Trump promised to honor the election campaign and trade protection policies were frequent. We believe that the forced introduction of a trade war may increase the probability of a “double loss” for the United States and the global economy including China. However, it is not appropriate to exaggerate its impact because: 1) Trump’s introduction of a trade war is more to deal with the political considerations selected during the mid-term. If there is an excessive negative impact on U.S. growth and commodity prices, it will mean setting fire to self-immolation; 2) The complementarity of trade relations between China and the United States is greater than that of competitiveness, and China’s current internal market is growing in size and its dependence on external demand is decreasing. 3) China’s exports to the United States will be approximately US$430 billion in 2017. The US imports about US$160 billion, which account for 19% and 8% of China’s total exports and imports, respectively, and is China’s trading partner after the EU. Under the background of increasing trade friction between China and the United States, China is expected to actively adjust its trade structure and further increase the pace of global opening to actively respond to the negative impact of the Sino-US trade war.
What areas will the trade war affect mainly?
In terms of specific areas involved: 1) From the moment of signing the memorandum, it is the industry that is planning to impose a 25% additional tariff on China, especially in the fields of aerospace, information and communications technology, and machinery; 2) industries with a relatively high trade volume Will be affected. Judging from the current Sino-U.S. trade industry structure, China’s exports to the U.S. are mainly mechanical equipment (based on categories such as home appliances and electronics, accounting for 48% of total exports), as well as miscellaneous products (12%) and textiles ( 10%), metal products (7%), etc. The US exports to China are mainly concentrated in machinery and equipment (30%, mainly capital goods), transportation equipment (20%), chemical products (10%), plastics and rubber products (5%), etc.; 3) From On the positive side, in the future, China may increase its openness to some areas in response to the Sino-U.S. trade warfare, including autos, medicine, medical care, finance, pensions, and media products.
At the listed company level, based on Factset statistics, the revenue from the United States in 2016 accounted for 5.0%/5.5% of the A-share/H-share non-financial industry revenue respectively, compared with 5% of the US S&P 500 companies from China. Income from U.S. revenues that account for high incomes of Chinese listed companies include technology hardware (technical hardware, semiconductors, etc.), optional consumption (durable consumer goods and clothing, personal goods, etc.), medical supplies (equipment and consumables), etc., income from China The industries that accounted for a relatively high percentage of S&P 500's constituent stocks include technology (hardware and software), retail sales of consumer goods, energy and raw materials."