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"Deglobalization will not bring factories back to the United States," as the products of most US corporate foreign affiliates are sold where they are produced, the report said.

"During this very successful trade mission, I announced deals worth over 60 million euros (.94 million) for Irish companies. That is very clear that Irish companies are successfully competing in the Chinese market and I hope that we can continue to compete and develop further opportunities," she added.

"Digitalization has allowed us to more easily personalize content or entice the consumer through targeted offers, which was harder to do in the past," said the president. "Digital marketing, or engaging with consumers via digital media, is one strategic area where Coca-Cola is seeing success."

"Economists nearly unanimously agree that tariffs have negative economic effects, and this has been observed time and time again when countries impose tariffs," said Erica York, an analyst with the Center for Federal Tax Policy at the US Tax Foundation, who wrote the report titled "The Impact of Enacting President Trump's Tariffs".

"Every day, I think maybe today's the day the nightmare will be over, but it's not," he said. "You see this number is, basically, reducing, but not at a tremendous rate.