Three in Five US Companies in China Hurt by Trade War Tariffs

TEHRAN (defapress) - More than 60 per cent of US companies operating in China have been hurt by US and Chinese tariffs imposed on $50bn worth of exports from both countries, according to a survey by the US chambers of commerce in Beijing and Shanghai.

News ID: 72375

Date: 13 September 2018 - 13:26

The survey by AmCham China and AmCham Shanghai, based on responses from more than 430 companies, showed that an even bigger share expected a negative impact from threatened tariffs not yet imposed. Nearly half of US companies expect a "strong" negative impact from the pending tariffs, The Financial Times reported.

The survey also showed one in three respondents are considering relocating China-based manufacturing to other countries in response to the trade war or have done so.

"This survey affirms our concerns: tariffs are already negatively impacting US companies and the imposition of a proposed $200bn tranche will bring a lot more pain," said Eric Zheng, chairman of AmCham Shanghai.

The groups urged China and the US to resume negotiations aimed at "a level economic playing field and bilateral trading relationship based on fairness and equal treatment", the groups said in a press release.

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