U.S. firms rethink China presence because of trade war

U.S. firms rethink China presence because of trade war”

"There should be no misunderstanding that U.S. consumers pay for tariffs on products that are imported", the 173 companies said, rejecting Trump's frequent erroneous statement that China pays the tariffs and that the money goes directly to the U.S. Treasury. "It is just a normal Chinese private company", Cui said.

"It is time to bring this trade war to an end".

The U.S. leader said that if American companies did not like the tariffs on Chinese imports, they could move their production inside the United States or to another country whose manufactured products are not taxed when they are sent to the U.S. But the footwear lobby rejected Trump's suggestion.

The seeds of the current stalemate were sowed earlier this month when Chinese officials sought major changes to the text of a proposed deal that the Trump administration says had been largely agreed.

Several rounds of talks between China and the United States on their long-standing trade quarrel have so far yielded no results.

Last week, the Trump administration added Huawei to its "entity list", which bans the company from acquiring technology from USA firms without government approval.

The move is a potentially devastating blow for the company that has rattled technology supply chains and investors.

Repercussions of the blacklisting mounted for Huawei, with some mobile operators, including the Ymobile unit of Japan's Softbank Corp and rival KDDI Corp putting launch plans for Huawei's new P30 Lite smartphone on hold.

During a three-day trip this week to the southern province of Jiangxi, a cradle of China's Communist revolution, Mr Xi urged people to learn the lessons of the hardships of the past.

"We must be conscious of the long-term and complex nature of various unfavorable factors at home and overseas, and appropriately prepare for various hard situations".

Shoes were among the products mentioned in the list, which covered $325 billion of Chinese imports.

But U.S. businesses in China are also nervous after President Donald Trump's decision to severely restrict Chinese telecommunications giant Huawei's access to American big tech companies. According to diplomats, Germany, whose exports of cars and parts to the United States are more than half the European Union total, wants to press ahead with talks to ward off tariffs on automakers Volkswagen, Mercedes and BMW.

But more than 40 percent said they were "considering or have relocated" production facilities outside China, with Mexico and Southeast Asia the prefered alternatives for manufacturing. Of the almost 250 respondents to the survey, which was conducted after the latest round of US and Chinese tariffs, nearly three-quarters said the levies were hurting their competitiveness. Previous year also, we saw both the United States and China impose tariffs on each other's goods even as talks were underway.

Washington also wants curbs on subsidies for Chinese state-owned enterprises and increased access for USA firms in Chinese markets.

An employee works on the production line of a tyre factory under Tianjin Wanda Tyre Group, which exports its products to countries such as US and Japan, in Xingtai, Hebei province, China May 21, 2019. China for years has blocked major USA tech firms, including Google and Facebook, from fully operating in its market.

According to Reuters, of nearly 250 respondents to a survey, which was conducted after China and the United States both raised tariffs on each other's imports earlier this month, nearly three-quarters said the higher tariffs were hurting their operations.

Most US businesses in China are hurting from the tariffs war between the two countries, forcing some companies to relocate overseas or refocus their business, a survey showed Wednesday.

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