The trade war is taking its toll on Apple Inc., a new survey of Chinese consumer attitudes shows.
The company tumbled to No. 24 in an annual report on China’s top brands, falling from No. 11 a year ago. In 2017, before the trade war started, Apple was fifth in this ranking. Meanwhile, Apple’s biggest local rival, Huawei Technologies Co., climbed two spots and came in second, behind only Chinese payment service Alipay.
The shuffle in the rankings is a sign of the growing challenge American brands face in the second year of Donald Trump’s tariff showdown with his Chinese counterpart, Xi Jinping. The survey findings show Chinese consumers growing cooler towards some American brands, especially after smartphone giant Huawei saw its Chief Financial Officer, Meng Wanzhou, arrested in Canada last year at the behest of the U.S. government.
