Trump’s China Tariffs: Impact on U.S. Companies and Trade Relations

Former U.S. President Donald Trump has reintroduced tariffs on imported goods from several countries, including China. This move has raised concerns about potential retaliation from China, which could significantly affect major U.S. companies.

Tariff Impact on U.S. Businesses

Since taking office in January 2025, Trump has imposed a 10% tariff on all Chinese imports under the International Emergency Economic Powers Act (IEEPA). In response, China has announced countermeasures, including tariffs of 10% to 15% on select U.S. imports such as crude oil, liquefied natural gas, agricultural machinery, and automobiles.

A Benzinga poll conducted between February 11 and 12, 2025, surveyed respondents on which U.S. company was most vulnerable to Trump’s tariffs on China. The results were:

• Apple Inc. (AAPL) – 35% (due to reliance on China’s supply chain)
• NVIDIA Corporation (NVDA) – 28% (chip exports facing restrictions)
• Tesla Inc. (TSLA) – 28% (China factory and export concerns)
• Boeing Inc. (BA) – 9% (potential loss of aircraft sales to China)

Apple was identified as the most at risk, while Tesla and Nvidia tied for second place due to their dependence on Chinese markets. Boeing was also considered vulnerable, though to a lesser extent.

Economic Consequences

The same poll asked whether Trump’s tariffs on China would help or harm the U.S. economy. Respondents answered:

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

A majority of respondents believe the tariffs will harm American businesses and consumers, as companies may pass increased import costs to customers. Trump has defended his tariff strategy as a means of correcting trade imbalances, but critics warn it could disrupt global supply chains and provoke further economic retaliation.

China’s Response and Rising Tensions

Beyond tariffs, China is now reportedly targeting major U.S. tech companies with antitrust investigations. According to The Wall Street Journal, companies such as Nvidia, Apple, Broadcom, and Alphabet may face tighter regulations in China. Additionally, two U.S. firms have been added to China’s “unreliable entities” list, further escalating tensions.

With U.S.-China trade relations becoming increasingly strained, multinational corporations must prepare for a shifting economic landscape. The long-term effects of these tariffs and retaliatory actions remain uncertain but are likely to reshape global trade policies in the coming years.