Beijing just detailed the cost of President Trump’s China trade war. Boeing (BA), General Motors (GM), Tesla (TSLA), Ford (F) and U.S. soybean growers could pay the price for Trump tariffs on $50 billion in Chinese imports.
Stock market investors could also pay a price. The Dow Jones industrial average, S&P 500 index and Nasdaq 100 all fell sharply at the open, tough they soon pared losses somewhat on the stock market today. Shares of Boeing lost 4%, Tesla 1%. GM and Ford pared big losses to just fractional declines. Apple (AAPL), which has the highest volume of sales in China of any U.S. multinational, slipped 1.1%. Apple didn’t appear to be a target of Beijing’s potential reprisals.
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