Tomohiro Ohsumi | Bloomberg | Getty Images
A paramilitary police officer stands guard in front of red flags at Tiananmen Square in Beijing, China.
Investors are increasingly concerned over the prospect of rising protectionism from the administration.
Trump may impose tariffs on $60 billion of Chinese goods, Reuters reported Tuesday, citing a source who had discussed the issue with the White House.
To stay clear from any market turmoil due to a potential trade war with China, investors may want to avoid U.S. stocks with high sales exposure to the Asian country.
Here are the top 20 companies with the highest revenue exposure to China, according to Goldman Sachs.
The list is dominated by technology chip suppliers that sell their products to manufacturers in China. Any trade issues between the U.S. and the Asian country could severely disrupt the global technology supply chain for companies like Apple.
Ironically with Trump’s plant visit Wednesday, Boeing may be one of the companies most at risk from a trade war. The company announced a $37 billion order for its planes from China last year.
The aerospace company’s stock is down 4 percent Wednesday, contributing to a more than 250 point decline in the Dow Jones industrial average. Investors fear China could target the Boeing in retaliation.
Conversely Goldman Sachs told its clients to buy companies with higher domestic sales exposure last year in the event of a global trade war.