US companies are ignoring Donald Trump’s threats to “decouple” from China and repatriate manufacturing, according to a survey of more than 200 companies with operations in the country.
The American Chamber of Commerce in Shanghai found that fewer than 4 per cent of respondents were relocating some production capacity back to the US. The majority — more than 70 per cent — had no plans to relocate any manufacturing out of China despite higher tariffs from Mr Trump’s long-running trade war with the world’s second-largest economy.
“Covid-19 hit the Chinese economy hard in early 2020, but the recovery was quick,” Ker Gibbs, chamber president, said on Tuesday. “American companies still see China’s consumer market as a great opportunity.”
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