09-13-2018, 01:53 PM
American companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey of hundreds of firms, prompting the U.S. business lobbies behind the poll to urge the Trump administration to reconsider its approach.
U.S. firms in China feeling 'clear and far reaching' trade war pinch: survey | Reuters
A new survey of U.S. companies doing business in China found that 31.1% are considering delaying or canceling investment decisions over uncertainties created by tariffs and U.S.-China trade friction. In addition, 50.8% of the companies surveyed said they anticipate a loss of profits because of the tariffs, while 47.1% said they are bracing for higher manufacturing costs. “American companies are suffering both from China’s retaliatory tariffs, and — ironically — from U.S. tariffs designed to harm the Chinese economy,” the American Chamber of Commerce in China and the chamber’s Shanghai chapter said in a joint statement.
A third of U.S. companies in China may put off investments over trade worries