China has responded with a measure equivalent to the duties of 25% that the US will trigger from August 23 on Chinese goods for 16 billion dollars. The US customs tariffs will be added to those of 25% taken on 6 July for 34 billion on 818 'Made in China' items. Beijing had already said it would respond with equivalent countermeasures as it did on July 6 by targeting various 'Made in the USA' products including soybeans. No sooner said than done.
Big companies like Apple are also risking a lot: Beijing has already warned Cupertino, which so far has benefited from cheap labor and a solid supply channel in the country and now could prepare to face “anger and a nationalist push” as part of the ongoing trade war. This was stated - reports the American press - by the Chinese newspaper People's Daily, underlining that Apple achieved 9,6 billion dollars in revenues in China in the quarter that ended in June. An amount that helped her to cross the $1.000 trillion mark of market capitalization.
