China's tariffs would hurt Apple and these other US companies
Tehran (KNA) - China and the United States appear to be on the brink of a full-blown trade war. And that is terrible news for many blue-chip American companies.
Stocks fell sharply Wednesday morning before stabilizing later in the day after China announced plans for a 25% tariff on more than 100 products that make up about $50 billion a year worth of US exports to the world's most populous nation.
That could be a major problem for Apple, Boeing, Caterpillar, Intel and other multinational companies in the Dow that sell a lot of their products to Chinese consumers and businesses.