Economics
Xi Can Make Life Tough for U.S. Companies From Apple to Walmart
- Disputes with Japan, S. Korea led to boycotts and lost sales
- Tesla, GM, Starbucks among most vulnerable American companies
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China doesn’t import enough from the U.S. to match Donald Trump’s tariffs dollar for dollar, but President Xi Jinping can still squeeze American companies in other ways in retaliation.
American businesses from Apple Inc. and Walmart Inc. to Boeing Co. and General Motors Co. all operate in China and are keen to expand. That hands Xi room to impose penalties such as customs delays, tax audits and increased regulatory scrutiny if Trump delivers on his threat of bigger duties on Chinese trade. U.S. shares slumped Tuesday as part of a broad sell-off in global markets in response to Trump’s threat.