More than 60 per cent of US companies operating in China have been hurt by US and Chinese tariffs imposed on $50bn worth of exports from both countries, according to a survey by the US chambers of commerce in Beijing and Shanghai.
The survey by AmCham China and AmCham Shanghai, based on responses from more than 430 companies, showed that an even bigger share expected a negative impact from threatened tariffs not yet imposed. Nearly half of US companies expect a "strong" negative impact from the pending tariffs.
The survey also showed that 35 per cent of respondents have relocated China-based manufacturing to other countries in response to the trade war or are considering doing so.
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