What were the main threats to American trade?

Currently, the United States has a threat from China that secured if the United States impose high duties and taxes to China, they are going to put them too, and very high. If those facts would happen, this would affect gravely the world economy because a lot of companies buy products from China, due to those are cheaper than in other countries. if China or the United States would have high duties, the purchases, exports, and imports would cost so much and it means the products would increase the price too, generating inflation.