On the morning of March 23, 2018, US President Trump officially signed a trade memorandum on China at the White House. Trump announced on the spot that it would be possible to impose tariffs on $60 billion of goods imported from China and restrict Chinese companies from investing in the United States. This press conference of US President Trump officially launched the first shot of the Sino-US trade war. As soon as this news came out, the global market was shaken. The first to show is that the three major stock indexes in the US stock market plummeted across the board. The Dow Jones Industrial Average fell 2.93%, while the S&P and Nasdaq indices also fell 2.52% and 2.43%, respectively. Then Europe