US Companies Operating In China Want No Retaliation Tariffs

Forex News

The majority of US firms working in China are strongly against retaliation tariffs. Around 69% of 434 of the surveyed by China Business Climate Survey of the American Chamber of Commerce in Shanghai opposed tariffs. The following statement concluded: "Resolving these challenges in an equitable manner is essential for the United States and China to have a healthy long-term commercial relationship that brings benefits to both our peoples".

Recently, Donald Trump claimed he will impose another 10% tariffs on 200 billion dollars of Chinese goods, including food products, tobacco, chemicals, coal, steel and aluminum. US firms in China suffer from the trade war. Still, 34% of surveyed saw the improvement from China’s government policies toward foreign businesses, which is higher than 28% in 2017.

AmCham stated: "Despite the relative optimism our members feel guarded about the future". The threats include China government’s preferability to its national firms, growing costs and domestic competition, according to the survey. 53% of firms raised investment in 2017, which was less than 55% in 2016.