(Reuters) – U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks.
The U.S. expects a significant response from Beijing, Treasury Secretary Janet Yellen had said ahead of the tariffs.
The following table lists S&P 500 companies that had among the largest China exposure in fiscal 2023:
Company Sector Net sales in
mainland China as a
percentage of total
revenue
Corning Electronic 32.68%
Equipment &
Parts
Albemarle Corp Specialty 30.00%
Chemicals
Intel Semiconductors 27.39%
Applied Materials Semiconductor 27.00%
Equipment &
Testing
Lam Research Corp Semiconductor 26.00%
Equipment &
Testing
Amphenol Corp Electronic 23.00%
Equipment &
Parts
Tesla Inc Auto & Truck 22.47%
Manufacturers
Borgwarner Inc Auto, Truck & 21.11%
Motorcycle
Parts
Microchip Semiconductors 21.00%
Technologies
Texas Instruments Semiconductors 19.00%
Inc
Apple Inc Phones & 18.93%
Handheld
Devices
Mettler-Toledo Medical 18.67%
International Inc Equipment,
Supplies &
Distribution
Keysight Electronic 18.40%
Technologies Inc Equipment &
Parts
Dupont De Nemours Diversified 18.27%
Inc Chemicals
Source: Company filings
(Reporting by Ananta Agarwal in Bengaluru; Editing by Sriraj Kalluvila)
