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Artificial intelligence is playing an increasingly prominent role in helping marketers in China capture the right audience and engage with existing users, according to an industry veteran.

As China takes up more than 25 percent of global sales in a wide range of sectors including electronic components and internet retail, "the biggest victim of decoupling would be America's tech giants, many of which rely heavily" on Chinese demand and suppliers, it noted.

Arriving in New York in 1976, Koon built up a studio that at its height in 2015 employed more than 100 artisans tasked with meeting his exacting standards.

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.

Around 600 foreign R&D institutions are located in Beijing. Multinationals like Apple, Tesla, Merck, Mercedes-Benz have all set their research and development centers in Beijing.