There is the question of what China can do to respond to the new tariffs, given it only has days before they are due to take effect.
Mr Olson said he expects Beijing to have a “forceful” response with tariffs and other measures making it more difficult for US companies to operate in China.
With the Chinese economy already facing challenges, Beijing faces “tough choices” in the days ahead, said Professor Dutt.
“Exporting to other regions threatens de-industrialisation in these destinations – and political leaders there are unlikely to accept this. That means China has to finally unleash domestic demand and the Chinese household,” he added.
The tariffs could also push China to try and build alliances with other Asian nations who have been on the receiving end of the tariffs.
Wang Huiyao, a former China Communist Party member who works with the Center for China and Globalisation think tank, called on Asian countries to “work together to go through this difficult time and fight protectionism”.
“In the end, the US could be losing all the influence and isolate itself,” he added.
Some discussions are already underway. China, South Korea and Japan recently held its first economic talks in five years.
They agreed to speed up talks for free trade agreement – which was first proposed over a decade ago.
The new tariffs could give them added incentive to do so.
However, Beijing could face some short-term pain while talks with Washington take its course.
“Ultimately, the US and China are headed for a negotiating table where they’ll try to reach some type of a grand bargain on a wide range of issues,” Mr Olson said.
“That won’t necessarily happen soon and I expect things to get worse before they get better,” he added.
