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"California exporters are attempting to find buyers in other countries to counteract the decrease in exports to China," said Sfeir.

"China has been the most trusted partner in providing very solid infrastructure investment in this country. The support we've been receiving isn't only in infrastructure and trade but also on human development," said Admasu Nebebe, Deputy Minister of the Ethiopia Ministry of Finance and Economic Cooperation.

"But luckily the government has a plan ... and (President Rodrigo) Duterte is the right man to see it through."

"China is already in the driver's seat with respect to the adoption of IoT technology, mainly driven by favorable government policies and fierce market competition inside the world's largest electronics manufacturing powerhouse," said Charlie Dai, principal analyst at Forrester, a business strategy and economic consultancy.

"By imposing additional tariffs on the Chinese products, the United States is actually damaging the world's industrial chains, and other countries involved will also suffer," said Wang.