The process of increasing Sino-US tariffs has been over two years. By combing the recent years’ relevant research, we find that most of the conclusions on the impact of increasing Sino-US tariffs are highly consistent: increasing Sino-US tariffs have negative effects on the prospects of global economic growth including China and the United States; increasing Sino-US tariffs are detrimental to the welfare of China and the United States, cannot help to solve the Sino-US trade imbalance, cannot help the return of US manufacturing employment, and cannot help to achieve a fairer trade pattern; further, increasing Sino-US tariffs have aggravated the global trade situation and created the spillover effect on third-party exports, which depends on the trade structure of the affected country and its competitive relationship with China and the US specifically. However, domestic and foreign scholars still exist arguments on whether the impact of increasing Sino-US tariffs on China is more significant or not, whether the devaluation of the RMB would help alleviate the shortterm shock of tariffs or not, and whether the increasing Sino-US tariffs have a long-term structural impact on the global multilateral structure or not. These controversies will become the main directions of future research.