A number of high-profile American business leaders are in China this week for the country's second annual international supply chain expo, including Apple's Tim Cook.

Prior to the expo, Cook and other top executives met with Chinese Premier Li Qiang. The meeting, as reported by the American Chamber of Commerce in China, focused on enhancing economic and trade cooperation. Representatives from companies like Corning and Rio Tinto were also present.

President-elect Donald Trump vowed Monday to slap punitive tariffs against Canada, Mexico and China, citing allegations that drugs and undocumented immigrants were entering the United States via those countries.