Most US companies in China oppose the president’s latest plans to impose 10% levies on $200 billion of Chinese goods, according to a survey conducted by the American Chamber of Commerce in Shanghai.
As many as 69% of enterprises surveyed said they do not support the measures, compared to just 9% who do, the report showed. The strongest opposition came from companies in chemicals, agriculture, food, and non-consumer electronics industries – those that will be most heavily hit by the new tariff list.
“We should give the Trump administration credit for getting China’s attention, since there have been extended discussions about the market-access issue for years,” said AmCham Shanghai President Kenneth Jarrett. “But at some point, the two governments have to get back to the negotiation table and talk to each other, otherwise we won’t make any progress.”
The other aspects of the survey showed that US companies are enjoying an improving business environment in China. Over half of the respondents said that revenue growth in China exceeded that in the rest of the world and had grown since last year. Additional investments in China fell short of expectations, however, although more companies had made China a top investment priority compared to last year.