The American Chamber of Commerce in China has released its Second Joint Survey on the Impact of Tariffs. Findings include:
- The negative impact of tariffs is clear and hurting the competitiveness of American companies in China. The vast majority (74.9 percent) of respondents said the increases in U.S. and Chinese tariffs are having a negative impact on their businesses.
- To cope with the impact of the tariffs, companies are increasingly adopting an “In China, for China” strategy (35.3 percent), or delaying and canceling investment decisions (33.2 percent). In China, for China is a strategy to localize manufacturing and sourcing within China to mainly serve the China market.
- “There are concerns that the government of China may decide to retaliate against American companies,” after the decision to put Huawei on the entity list, the chair of AmCham told the BBC.
- Chinese tariffs devastate Maine lobster industry / Asia Times
- Trump readies new round of aid to farmers hit by China trade war / Bloomberg (porous paywall)