Trump has imposed sanctions on Chinese officials in response to the crackdown on the pro-democracy movement. These are the latest in a string of actions taken by President Trump in the final weeks of his Presidency. These measures are being rushed through to make it difficult for Biden to overturn in the face if bi-partisan pressure from the Senate/House of Representatives.
At the same time the US has put Chinese companies on a blacklist – CNOOC and Xiaomi included and shares in the latter dropped 10.3% in Hong Kong trading.
Do these moves hurt China? Yes.
Next question – will these moves force China to buckle, change its foreign policy or its declared intention of building Socialism with Chinese characteristics? No
Maybe the most eloquent comment on US-China relations will be the pictures of the military control of Washington as Biden is sworn in. What does it say about US democracy that Trump urged his supporters to mount a coup d-etat?