Do they though? Looking from the outside (I am neither in the US nor in China) it seems to me that the animosity is coming from the US and that it originates in the realisation that it cannot compete anymore.
China has always had hegemonic ambitions with "(Communist) chinese characteristics" using the "Hide your strength, bide your time" approach. Xi Jimping, showed its aggressive attitudes without having enough strenght behind, one of his many geopolitical blunders, forcing Western leaders to take much needed countermeasuers despite business leaders desires (business interests in chinese markets)