It is plausible that the effect of the technology dispute will be larger than that of the tariffs. The technology dispute raises the possibility that any business involved in the technology production chain will have to choose between East and West rather than selling into a global market.
https://www.rba.gov.au/speeches/2019/sp-dg-2019-08-15.html  1/10  8/15/2019  Risks to the Outlook | Speeches | RBA  The uncertainty as to how the dispute will play out on both the trade and technology fronts means businesses are waiting to see how the uncertainty resolves rather than invest.