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Corporate America in the Crossfire

The US may have a trade deficit with the rest of the world, but its multinational companies have a major surplus when it comes to sales in foreign markets – especially China. If the US-China trade war continues to escalate, these firms will be, as US President Donald Trump might put it, the biggest losers.

HONG KONG – American multinationals may like the idea of forcing China to alter the policies and practices – from subsidies for state-owned enterprises to the requirement that foreign firms share proprietary technology in exchange for access to the Chinese market – that place them at a competitive disadvantage. But, as US President Donald Trump’s trade war continues to escalate, it is worth asking: What price are these companies really willing to pay?