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These American companies could lose in a trade war with China

A trade war with China could be very bad news for some of America's largest companies....

Posted: Mar 22, 2018 10:17 PM
Updated: Mar 22, 2018 10:17 PM

A trade war with China could be very bad news for some of America's largest companies.

Stocks sank Thursday as investors worried about the Trump administration's announcement of new tariffs on Chinese imports.

If China retaliates, life may become difficult for Apple, Boeing, Intel and other multinational companies in the Dow and S&P 500 that have started to do more business in the world's most populous nation.

Apple generated $18 billion in revenue -- 20% of its total sales -- from China in just its most recent quarter. Boeing's China sales last year were nearly $12 billion, almost 13% of its overall revenue.

Chip giant Intel -- as well as fellow semiconductor firms Texas Instruments, Nvidia, Micron and Qualcomm -- also have a big presence in China thanks to manufacturing plants there and Chinese tech companies that use their processors.

The Trump administration just blocked Singapore-headquartered Broadcom's proposed takeover of Qualcomm as well, adding to some geopolitical tensions.

Related: China says it will hit back if US announces new tariffs

But the growth of the middle class in China has helped other big US companies too.

Dow component Nike, which will report its latest results after the markets close Thursday, sold $1.2 billion of sneakers and athletic apparel in China in its last quarter. That's 15% of the House of Swoosh's total revenue.

Post-It and Scotch Magic Tape maker 3M, also in the Dow, generated 10% of its sales from China last year too. And sales in China were up 16% in 2017, compared to just 1.5% in the United States.

Related: Why Trump's tariffs on China are a big deal

GM said earlier this year that it and its joint venture partners sold more than 4 million vehicles in 2017 -- a record high fueled by strong demand for the Cadillac and Buick brands.

Starbucks has made a big bet on China as well -- and it appears to be paying off. The coffee giant now gets about 14% of its sales from China -- and sales are growing at a faster pace there than they are in the United States and other developed markets.

Casino giants Las Vegas Sands and Wynn Resorts could also be hurt by China's potential retaliatory moves. Both of those companies generate more than half their revenue from the Chinese special administrative region of Macau -- not Sin City.

So even though President Trump is acting to try and protect American workers from Chinese competitors that are selling more of their goods and services in the United States, many American companies stand to lose big if China fights back with tariffs of its own.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 1118335

Reported Deaths: 17712
CountyCasesDeaths
Marion1455892240
Lake724831254
Allen67063882
Hamilton51060487
St. Joseph49820649
Elkhart40268546
Vanderburgh34714497
Tippecanoe30808276
Johnson27696467
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Porter25657386
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Floyd12011226
Grant11998245
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Marshall9152147
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Ohio92413
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Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1717876

Reported Deaths: 26851
CountyCasesDeaths
Franklin1793291843
Cuyahoga1681592655
Hamilton1137721544
Montgomery805721405
Summit719531210
Lucas630291027
Butler56852814
Stark538501183
Lorain42330645
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Mahoning35798788
Lake32314501
Clermont31289369
Trumbull27344620
Delaware27206185
Licking26658344
Medina26042353
Fairfield24638287
Greene24378373
Clark22122390
Portage21257283
Richland21102342
Wood20128248
Allen18969326
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Columbiana16905335
Muskingum16726207
Wayne15740307
Tuscarawas14454362
Marion13332196
Ashtabula12732237
Erie12685199
Scioto12475188
Pickaway12260155
Ross11719226
Hancock11529175
Geauga10934179
Lawrence10653172
Belmont10459234
Huron9805159
Jefferson9632228
Union957375
Sandusky9348166
Seneca8917161
Knox8792176
Washington8688159
Darke8399181
Athens838197
Ashland8029152
Auglaize7943120
Shelby7511135
Defiance7358117
Crawford7281150
Fulton7215113
Brown7173116
Logan7003111
Guernsey696186
Mercer6933100
Highland6745120
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Williams650099
Madison649790
Preble6274140
Putnam6244122
Jackson581597
Champaign580887
Perry566779
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Hardin4895100
Gallia471478
Van Wert467895
Pike465578
Adams4592110
Henry434280
Hocking410193
Holmes3999141
Wyandot377675
Carroll366178
Paulding325451
Meigs305961
Monroe235961
Noble220349
Morgan216939
Harrison213153
Vinton187638
Unassigned06
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