Last Update 21:59
Tuesday, 19 November 2019

US companies in China say they've been hurt by trade war

AP , Thursday 29 Aug 2019
US companies in China say they
US-China trade war risks hurting firms in both countries (AP)
Views: 1285
Views: 1285

 Caught in the crossfire of a trade war, American businesses operating in China say they've been hurt by the hostilities between the world's two biggest economies and are facing increasingly unfair competition from Chinese firms.

But they still aren't ready to give up on the Chinese market.

In the U.S.-China Business Council's annual survey, 81% of companies say they've been affected by U.S.-China trade tensions, up from 73% last year.

Nearly half (49%) say they've lost sales because of tariffs China has imposed on U.S. products in retaliation for American import taxes; 47% say Chinese authorities are using red tape _ regulations and licenses _ to discriminate against them.

Still, 88% say they have no plans to move out of China.

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