More than 50 companies move production outside of China due to the trade war

The pace of companies moving production from China is accelerating as more than 50 multinational companies from Apple to Nintendo to Dell are in a hurry to avoid the US tariffs.

The US-China trade war has been going on for over a year, with 25% of the tariffs being worth $ 200 billion in Chinese commodities. President Donald Trump still threatens to hit the bill for an additional $ 325 billion in commodities. After an intense battle, more and more companies are announcing plans or considering shifting production from China.

US and Dell PC manufacturers could move up to 30 percent of China's manufacturing of notebooks to Southeast Asia, Nikkei said. Apple has asked its major suppliers to assess the cost implications of relocating 15% to 30% of its production capacity from China to India, according to an earlier Nikkei report.

Japanese company Nintendo will also withdraw part of its videogame production from China to Vietnam.

Foreign companies not only rethink their production base, but also several Chinese companies leave China. China's multinational electronics company TCL moves its television production to Vietnam, while Chinese Sailun Tire tire maker transfers its production line to Thailand.

The prolonged trade battle seems to have an impact on the Chinese economy. Data on Monday showed that its economic growth slowed down to 6.2% in the second quarter - the worst pace of at least 27 years.

Trump argues that slower growth is proof that China is losing the trade war while the country faces mass exodus.

"US tariffs have a major impact on companies that want to leave China for non-taxed countries. Thousands of companies are leaving. That's why China wants to make a deal, "Trump said in a Twitter post on Monday.

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