More US Companies Likely to Share Apple Pain Amid China Tensions

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Kevin Hassett, economic advisor to President Donald Trump, said that trade war with China will force other companies besides Apple to announce lower earnings.

Hassett said trade tensions have accelerated an economic slowdown in China and across Asia that is eroding the earnings of U.S. companies, but argued that Trump could use fears of a massive downturn to extract concessions from Beijing.

But Hassett sought to inspire confidence in the economy, saying U.S. companies would benefit from re-worked trading relationships despite the pain they are currently feeling and that Apple's sales and everybody else's sales will recover if the US have a successful negotiation with China.