US companies oppose Trump’s import tariffs: AmCham report
A survey shows that US companies in China are exasperated with US President Donald Trump’s tariffs, and an expert said the survey shows the Trump administration knows little about the global industrial chain.
The survey conducted jointly by American Chamber of Commerce in China and American Chamber of Commerce in Shanghai showed that nearly two-thirds of more than 430 US companies operating in China said Trump’s tariffs on Chinese imports have hurt their businesses. Nearly half of the respondents said production costs have climbed.
“The survey shows Trump’s government knows little about the global industrial chain,” said Liu Jianying, an associate research fellow at the Chinese Academy of International Trade and Economic Cooperation.
“These are the real thoughts of US businessmen in China. They have put up enough with Trump’s trade war. It has raised their costs and affected their sales,” Liu told the Global Times.
“China’s market is attractive to US companies, and they will not give it up,” Liu said. “When a company chooses the site for its factory, it makes a complex consideration of markets, labor costs and other factors.
“Now, US companies have raised their voices against Trump’s trade war, which shows they don’t want to give up the ‘big cake’ of the Chinese market,” Liu said. “As the statement noted, the US administration runs the risk of a downward spiral of attack and counterattack, benefiting no one.”