A Third of American Companies in China Are Cancelling or Delaying Investments. Even More Are Considering Leaving: Survey
Roughly a third of surveyed American companies in China said they are cancelling or delaying investments in the country as China and the U.S. continue their trade standoff, according to a May report from the American Chambers of Commerce in China and Shanghai.
The survey found that American companies are seeing more obstacles during this tit-for-tat trade war.
For example, 74.9 percent of the two groups’ members said they had experienced negative side effects of the trade dispute, according to CNBC.
That includes about one-fifth who say they have been subjected to increased inspections and slower customs clearance.
The U.S. and China have been going back and forth imposing tariffs on each other’s goods since summer 2018.
Most recently, China imposed duties ranging from 5 percent to 25 percent on $60 billion in U.S. goods on June 1.
That move came in response to the U.S. increasing tariffs from 10 percent to 25 percent on $200 billion in Chinese goods May 10, reported CNBC.
Do you think the Trump administration’s tariffs are to blame?
29% (4 Votes)
71% (10 Votes)
“Particularly in the wake of the decision to put Huawei on the… entity list, there are concerns that the government of China may decide to retaliate against American companies,” AmCham China chair Tim Stratford said, according to a Wednesday BBC story.
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