BEIJING: Frustrated U.S. businesses can no longer be counted on as a"positive anchor" in U.S.-China relations, a top U.S. business lobby said on Wednesday, arguing any deal to end trade tensions must address structural problems in China's economic system.
"The U.S. business community in China, so long an advocate of good bilateral relations, can no longer be relied upon to be a positive anchor. U.S. companies continue to face an uncertain operating environment in China amid decreasing optimism about their investment outlook," it said. U.S. President Donald Trump has slapped tariffs on US$250 billion of goods imported from China to press demands for an end to policies - including industrial subsidies, forced technology transfers, and market access barriers - that Washington says hurt U.S. companies.The chamber said tariffs had negatively impacted many of its members who"are not necessarily supportive" of their use, but earlier attempts at dialogue had failed to balance economic relations.
A chamber survey in February showed a majority of its members favored the United States retaining tariffs on Chinese goods while Washington and Beijing try to hammer out a deal to end the trade war.It noted then that 19 percent of its companies were adjusting supply chains or seeking to source components and organize assembly outside of China as a result of tariffs.
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