One could also easily argue that the CCP has very little to gain from ruining almost all of their customers financially.

So far, it also looks like mainland China was hit hard, while Taiwan got off easy. The CCP would most likely not strengthen a territory that they hope to eventually absorb.

And lastly, I would assume that with Trump, the CCP could just bribe their way into Washington.

So I see very little for them to be gained from starting this. And you yourself also conclude that India is benefiting more than China.