China is vital for many top international brands, but doing business there often comes with a high entry fee. Some major US companies including GM (GM) and Qualcomm (QCOM) sell more of their products in China than anywhere else in the world. "Our economic interests with China are significant and growing," said Jacob Parker, vice president of the US-China Business Council, a trade group that represents US companies' interests in China. "China is a $600 billion market for the American economy."
But the Chinese government is now coming under increased pressure over the demands it makes of foreign firms seeking to gain access to that vast market. The Trump administration is pointing to unfair practices by Beijing as the reason for US plans to slap tariffs on around $50 billion of Chinese goods, a move that has intensified fears of a trade war between the two countries.