Trump’s China Tariffs Could Hurt Major U.S. Companies, Poll Shows

Former President Donald Trump’s decision to impose tariffs on imported goods from multiple countries, including China, has raised concerns about economic retaliation. A recent Benzinga poll highlights which companies could be most affected by these trade policies.

What Happened?

Since taking office in January, Trump has repeatedly targeted China, Canada, and Mexico with tariffs or threats of tariffs. Among these, China has been his primary focus. While Trump argues that these tariffs help reduce trade imbalances, they could also damage U.S.-China relations.

Higher import costs on Chinese goods may force companies to pass these expenses onto consumers, leading to increased prices for various products. As a result, businesses relying on China for manufacturing, supply chains, or exports could face significant financial challenges.

Companies Most at Risk

To determine which companies could suffer the most from Trump’s tariffs, Benzinga surveyed readers, asking:

“Which stock is most at risk from Trump’s China tariffs?”

The poll results were as follows:

• Apple Inc. – 35% (due to reliance on China’s supply chain)
• NVIDIA Corporation – 28% (affected by chip export restrictions)
• Tesla Inc. – 28% (impacted by Chinese factory and export concerns)
• Boeing Inc. – 9% (due to aircraft sales to China)

Apple was seen as the most vulnerable, given its heavy reliance on Chinese manufacturing. Nvidia and Tesla tied for second, as both companies face regulatory and supply chain risks in China.

Will Tariffs Help or Hurt the U.S. Economy?

Benzinga also asked readers whether Trump’s tariffs would benefit or harm the U.S. economy. The responses were:

• Hurt businesses and consumers – 54%
• Help the economy – 36%
• No real impact – 10%

A majority of respondents believe that tariffs will have a negative impact, increasing costs for businesses and consumers. Meanwhile, some experts warn that China may retaliate by targeting U.S. technology companies like Nvidia, Apple, Broadcom, and Alphabet with antitrust investigations.

As trade tensions escalate, businesses dependent on Chinese partnerships face uncertainty. The long-term impact of these tariffs remains uncertain, but for now, companies like Apple, Tesla, and Nvidia must navigate the challenges of a shifting global trade landscape.