The latest AmCham survey shows how the trade friction is affecting bottom lines.
Two-thirds of American companies operating in China have experienced disruptions to their business as a result of the protracted trade war between the world’s two largest economies, according to aStill, there remains general support for President Trump’s tough approach to dealing with Beijing, with a narrow majority saying that the tariffs should remain in place or be increased while negotiations to forge a trade deal continue.
AmCham has 771 members in China, working in industries ranging from aerospace and pharmaceuticals to energy and health care. Just less than half — 314 — members responded to its annual survey, conducted between Nov. 13 and Dec. 16 last year. It was in the middle of that period that Trump gave China 90 days to agree to a deal or face a rise in tariffs from 10 percent to 25 percent on $200 billion worth of its exports to the United States.
The tariffs have hurt both countries, increasing the price of Chinese-made televisions and baseball gloves for American consumers, and making American-grown soybeans and pork more expensive in China. Trump’s constant exhortations for American businesses to move their operations back home, coupled with Chinese President Xi Jinping’s calls for “self reliance,” have only exacerbated business concerns about a protracted trade war leading to what is sometimes called economic “decoupling” — the world’s two biggest economies trying to separate from each other.
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