Economy IMF claims the current US-China trade war is a 'phony war' Updated : April 18, 2018 01:19 PM IST A potential trade war has been brewing between the two nations since April 2017. The recent intensification of trade tensions started in early March. Nations must proceed in a collaborative way, rather than in a conflictual way. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.