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"Hasbro will have no choice but to pass along the increased costs to our US customers," said Brian Goldner, CEO of toy company Hasbro. He said the Pawtucket, Rhode Islandbased company, the maker of popular products such as Monopoly and GI Joe, was working to reduce its reliance on manufacturers in China, but he also said it has built up extra inventory, incurring additional storage costs, as it braces for tariffs.

"Forty years after China's reform and opening-up, China's supply chain, manufacturing chain, as well as its talent pool, have probably grown to the top position in the world," said Wu Peng, general manager of marketing and sales at Dreame Technology, a Tianjin-based company that specializes in smart household appliances. "Along with the development of these basic infrastructures, Chinese brands have become very competitive in the world."

"From the perspective of economics, the ageing society does have its upside, as tomorrow's 'gray population' in China and around the world could translate into golden consumption and investment opportunities that insurers and reinsurers cannot miss out on," said Savarese.

"Flights between China and Italy have been suspended for the moment, which means the chartered flight had to be approved by authorities," said Peng Haiyan, a deputy director with China Eastern.

"Global economic growth is slowing, but the US is comparatively better positioned that most other regions," Goldman Sachs said. "The consumer accounts for 70 percent of the US economy, the unemployment rate stands at 3.6 percent — the lowest rate in 50 years — wages are rising, households have been (reducing debt) for a decade and consumer confidence remains strong."