We've now largely abandoned the practice of actively killing over trade, but the nomenclature remains by precedent, and is understood by all.
I mean, the US is not requiring, say, that goods imported to US ports be exclusively carried by US ships, as the English did. The US is not taking possession of any of the many Chinese owned port facilities which currently operate in a large number of US cities. The US is not demanding that only US merchant ships be allowed to carry cargo across certain regions of the world's oceans. And, China has not, for instance, sailed up the Potomac and stolen any US vessels.
Most of this is playing out in terms of taxes and tariffs. It is almost totally bureaucratic and regulatory in nature.
And in fact they may not do it ever, because such tactics require an opaque bureaucratic system and large-scale centralized control that Western-style countries simply don't have.