Frustrated U.S. businesses can no longer be counted on as a 'positive ancho...
BEIJING - Frustrated U.S. businesses can no longer be counted on as a “positive anchor” in U.S.-China relations, a top U.S. business lobby said on Wednesday, arguing any deal to end trade tensions must address structural problems in China’s economic system.
“Crucially, the mood has shifted,” the American Chamber of Commerce in China said in a statement accompanying its annual report on China’s business climate. U.S. President Donald Trump has slapped tariffs on $250 billion of goods imported from China to press demands for an end to policies - including industrial subsidies, forced technology transfers, and market access barriers - that Washington says hurt U.S. companies.The chamber said tariffs had negatively impacted many of its members who “are not necessarily supportive” of their use, but earlier attempts at dialogue had failed to balance economic relations.
China has pledged to open up, but U.S. companies in many industries in the country are still not receiving the same treatment that Chinese companies experience in the United States, the chamber said. But many in the U.S. business community have expressed concern that Trump could settle for a deal that increases commodity sales to China, while doing little to change China’s underlying trade practices and industrial policies.
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