Starbucks divested majority control of its 6,500-store China unit to Boyu Capital for $4 billion, a year after CEO Brian Niccol’s restructuring. Goldman Sachs advised the deal, launched in May 2025. It mirrors Best Buy, Yum Brands, Uber, McDonald’s, Amazon, and Gap exiting or shrinking China exposure. Trump’s 100-minute Xi summit averted 100% tariffs, enabling smoother divestitures. US brands now