Trump’s renewed commitment to America First has led to sweeping tariff threats, including potential 60% duties on Chinese products. These measures strain relations not just with China but also with key allies like Canada, Mexico, and the European Union. U.S. corporations are now viewed abroad as extensions of American foreign policy, exposing them to backlash.
The consequences are clear. In China, boycotts of American products are on the rise. Apple
, once dominant in the Chinese smartphone market, saw its share drop to 15% in Q3 2024 as Huawei claimed 19%, according to Counterpoint Research. In its most recent earnings, Apple’s China sales declined 11.1%, its largest drop in China sales since the same quarter last year. Starbucks faces similar challenges, losing ground to homegrown competitor Luckin Coffee, which offers lower prices, faster service, and localized flavors. Tesla — once China’s leading foreign EV brand — has seen a 22% year-over-year decline in sales, with BYD dominating the domestic market…Read More.
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