US com­pa­nies op­pose Trump’s im­port tar­iffs: AmCham re­port

Global Times - - Biz Overview -

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.”

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