Not true. At these point of tariffs you move to non-monetary actions which don’t look as obvious, but since the 125% tariff China: -Dropped its tariffs on about 40 other countries that are US trade partners to get closer relations to them -Began ordering the implementation of its reducing of imports on US film and reviewing US IP protections in China -Made a trade agreement with Brazil to buy all Brazilian produced soybeans while tariffing US ones. -Agreed to cap production of EVs in China and allow EU EVs and components to freely access China -Agreed to drop over a dozen trade restrictions on EU products entering China -Created a new review board aimed at boosting regions government buying from Chinese domestic sources -Told major Chinese producers that the government will backstop production. -Held a conference on expanding export controls, specifically in regards to exports to the US. -Held meetings to brief Chinese embassy teams on trade delegations with non-US countries. -Increased stabilization fund for Chinese stocks. -Increased national holding of US traded Chinese companies to record levels. -Moved on Yuan rate and deficit, past the former limit levels. So it may look like China has “not retaliated” but that’s like saying your enemy “surrendered” in war because they weren’t shooting - meanwhile they were building trenches and stock piling supplies for a long fight.