China has won the trade war. Trump is fighting a rearguard action. China controls not only the supply chains and supply of most manufactured goods but the commodity markets where it buys the majority of output from producers thus controlling those markets and prices. USA is left still in control over some major international institutions and protocols but that domination is in decline. China increasingly processes payment of international trade payments on routes not monitored or controlled by SWIFT, IMF or BIS. Trump threatened BRICS members not to switch protocols because if they continue to do so the hegemony of the USD collapses and the USA is insolvent very swiftly.