Traders’ Guide to US Stocks Most Affected in China Trade Talks

Companies like Nike Inc., Estee Lauder Cos. and Philip Morris International Inc. are heavily exposed according to Bloomberg supply-chain data. — Companies like Nike Inc., Estee Lauder Cos. and Philip Morris International Inc. are heavily exposed according to Bloomberg supply-chain data.
Photographer: Bing Guan/Bloomberg

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By Esha Dey and Matthew Griffin

May 9, 2025 at 11:00 AM UTC

Updated on

May 9, 2025 at 1:59 PM UTC

US equity investors will be watching closely as trade talks kick off between the Trump administration and China, with trillions of dollars hanging in the balance for American companies.

The average member of the S&P 500 made 6.1% of its revenue from selling goods in China or to Chinese companies in 2024, according to an analysis from Bloomberg Intelligence’s Gillian Wolff and Gina Martin Adams.