The Sino-US trade war is hurting companies on both sides of the conflict. In early January, the US stock market dropped sharply after Apple issued its first revenue warning in 16 years, citing weak sales in China. Several weeks later, chipmaker Nvidia cut its quarterly revenue expectations by $500 million for the same reason. A survey last year by the US-China Business Council showed that 28 percent of US companies reported increased scrutiny from Chinese regulators because of trade friction. Even American cherry growers are being affected, losing $89 million in sales last year.
Zhou Hanhua is vice president of the Law institute at the Chinese Academy of Social Sciences.