U.S. companies doing business in China are still making profits there, but 81% s...
USCBC President Craig Allen, a former senior U.S. government official and expert on China, urged the United States and China to return to the negotiating table to end damaging tit-for-tat tariffs and avert lasting damage to bilateral ties.The next round of U.S. and Chinese tariffs will take effect on Sunday in a trade war that has roiled global markets and raised the specter of a global recession.
Nearly 40% of those surveyed said they lost sales because of Chinese partners’ concerns about doing business with U.S. companies, a seven-fold increase over 2018. The survey showed that China remained among the top five global markets for U.S. companies because of its comparative size, and 97% of member companies reported increased profitability in China in 2019 despite the trade dispute.
The survey, taken in June before Trump’s call for companies to quit China, showed a majority of U.S. companies remained committed to the China market and few were divesting existing operations.
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