Well-known online Chinese news site Sina recently reported on a study report that the American Chamber of Commerce in China just published. The report shows that the tariff war between China and the United States has impacted two thirds of the U.S. companies in China. The next wave affecting US$200 billion in tariffs on Chinese imports will bring the impact scope to above 70 percent. Most of the impacted areas involve cost increases (47.1 percent) and reduced demand (41.8 percent). Around one third of those surveyed U.S. companies plan to postpone or cancel investment plans. Also, around one third of the companies will adjust supply chains. The most popular countries for the new suppliers are Southeast Asian counties and Indian subcontinent countries. The survey was conducted around the beginning of September. Over 430 Chamber member companies responded. Around 61 percent of these companies are in the manufacturing industry.
Source: Sina, September 13, 2018