U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by AmCham Shanghai and AmCham China in Beijing.
Nearly three-fourths, or 74.9%, of almost 250 respondents to a survey held from May 16 to May 20 said the increases in American and Chinese tariffs are having a negative impact on their business, according to a report released Wednesday by the American Chamber of Commerce in Shanghai and the Beijing-based American Chamber of Commerce in China.
Of the survey participants, 61.6% were manufacturing-related, 25.5% were in the services sector, 3.8% were in retail and distribution and 9.6% came from other industries. The U.S. raised tariffs on $200 billion worth of Chinese goods to 25% from 10% on May 10. Beijing responded a few days later with duties ranging from 5% to 25% on $60 billion worth of U.S. goods, set to take effect June 1.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Death by paperwork: Tariffs aren’t China’s only trade weaponHere’s how China could cause pain to American businesses without resorting to tariffs.
Lire la suite »
Mnuchin says China trade talks likely to continue in BeijingU.S. Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel t...
Lire la suite »
China Says It Doesn’t Know About U.S. Plans for Beijing Trade TalksChina’s Commerce Ministry denied knowing about U.S. plans to resume trade talks, deflecting remarks by Treasury Secretary Steven Mnuchin that American officials are likely to travel to Beijing soon for negotiations.
Lire la suite »
‘I don’t see him crying uncle’: Trump believes China tariffs will help him win reelectionThe president’s confidence comes amid disagreement inside the White House over his strident nationalism and firm belief in tariffs as economic weapons.
Lire la suite »
Here Is How China Is Really 'Paying' For TariffsChina is not paying for tariffs at the ports. American companies are. But they are paying in other ways.
Lire la suite »
Opinion | There’s a revealing puzzle in the China tariffsOpinion: There’s a revealing puzzle in the China tariffs
Lire la suite »
Morgan Stanley: More tariffs on China could trigger a global recessionMore tit-for-tat tariffs in the U.S.-China trade war could set the global economy up for a recession, according to Morgan Stanley.
Lire la suite »
Toomey: 'Absolutely painful' China tariffs may be 'worth the price'Sen. Pat Toomey defended Trump amid the administration’s trade war with China, arguing that an eventual agreement with Beijing may be “worth the price” of the “absolutely painful” tariffs hammering American farmers.
Lire la suite »
Wholesale importer: Our family business, like others, pays Trump's tariffs — not ChinaWe are importers of Christmas decorations. The vast majority of the items we import are made in China, with some exceptions. China is the only country that can produce many of the items we buy.
Lire la suite »
The first round of China tariffs already stifled U.S. exportsThe U.S.-China trade war is escalating, but many U.S. industries are already feeling the pain of last summer's skirmish.
Lire la suite »