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Arancha Gonzalez, head of the Geneva-based International Trade Center (ITC), witnessed the imposition and effects of steel safeguard tariffs during the Gorge W. Bush administration in 2002.

Apple's interest is not just in mobile payments. Last year, it made an investment of billion in Chinese on-demand mobility provider Didi Chuxing. This spring, Apple CEO Tim Cook visited bike-sharing start-up Ofo during his China tour.

As China's first Gen 6 LTPS (low temperature polysilicon) LCD line, the T3 project produces both small and medium-sized panels aimed mainly at smart end devices. It has a 20 percent share of the global market.

As Orion implied in his concession speech, Amazon’s record spending on the election appears to have backfired. Just two of the seven Amazon-backed candidates were elected last week. The new Seattle City Council has moved further to the left than the previous one and Sawant is already pledging to tax Amazon aggressively.

Apple, heavily dependent on China for assembly of its iPhone and laptops, closed at 8.97 a share, up .49, or 4.2 percent. The latest round of tariffs would have hurt Apple's launch of this year's new iPhone line, which usually happens in late September.