The three-month cease-fire in the merchandise war should offer a reprieve for United States companies that produce and sell in China.
President Donald Trump and Chinese President Xi Jinping struck the settlement on Saturday to pause as tariff negotiations continue for 90 days starting in January.
Here are the top 20 U.S. companies with the merriest revenue exposure to China, according to Goldman Sachs, which used data from 2017.
Goldman’s list is stuffed with companies in the semiconductor industry, such as Nvidia and Intel. Many chipmakers sell to manufacturers in China.
Apple’s deliver chain in China has also been under scrutiny. The tech giant’s stock fell last week after Trump mentioned the U.S. might put a 10 percent tariff on iPhones because of their Chinese components. Bernstein analyst Toni Sacconaghi believed about 25 percent of Apple’s revenue would be subject to such a tariff.
Trump crowed about the engagement with Xi in a tweet on Monday, saying “relations with China have taken a BIG leap forward!”
@realDonaldTrump: My conjunction in Argentina with President Xi of China was an extraordinary one. Relations with China have taken a BIG leap forward! Altogether good things will happen. We are dealing from great strength, but China likewise has much to gain if and when a engage in is completed. Level the field!