On Friday, 23rd August, Trump said in a tweet that U.S. companies “are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA. ” It was not immediately clear under what authority or how the president could implement such orders. On the same day, China announced plans to impose additional duties on $75 billion worth of American goods on Sept. 1 and Dec. 15. In response, U.S President Donald Trump tweeted later that day his administration would also raise tariffs on $550 billion of Chinese imports. The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties based on sources from CNBC.

According to CNBC, although that adds to the burden on Chinese companies, which already face pressure from a slowdown in the domestic economy, data and other analysis indicate businesses in the mainland are finding ways to remain resilient — even if it sometimes means absorbing the costs of tariffs. China is bolstering its own businesses in 4 ways: Increasing government support, Opening channels to other international markets through programs such as free trade zones and the Belt and Road Initiative — a Beijing-led massive infrastructure project, Developing a higher-quality operating environment for state-owned and foreign enterprises and Implementing policies such as tax and fee cuts. Chinese companies could gain greater market share, at the expense of U.S. businesses. Already, data and company reports indicate how Chinese companies