AmCham Shanghai President, Kenneth Jarrett delivering the results of a recent business survey at CSIS on September 26, 2018
Summary
Washington, DC – On September 26, FAO Global attended an public presentation followed by an invite-only reception at the Center for Strategic and International Studies (CSIS) in Washington, DC. AmCham Shanghai President Kenneth Jarrett presented the surveys as part of a multi-day trip (also known as a door-knock) in which AmCham Shanghai member companies visited policy makers, trade representatives, and local think-tanks.
Key Takeaways:
- U.S. businesses in China are wary of an uncertain business climate prompting many to put plans on hold until U.S.-China trade disputes settle down.
- U.S. businesses feel current U.S. Tariffs are hurting their businesses more than Chinese tariffs.
- China’s economic growth will continue to outpace the U.S., and only 3% of those U.S. businesses surveyed were considering leaving the market.
- Intellectual Property Issues are a matter of enforcement among diverse provinces and increasingly crucial for domestic firms.
FAO Global Assessment
U.S. businesses are feeling the pressure of the U.S.-China tariffs. Many of products imported facing U.S. tariffs are products of U.S. companies. Many contend the underlying issues related to intellectual property, cyber regulations, and a less welcoming business environment should be addressed. However, tariffs have repeatedly been rebuked by those in the business community as hurting local businesses. The U.S.-China trade tensions are unlikely to reside before the year is out. However, with new NAFTA negotiations underway, the Trump Administration may start looking to head back to the negotiating table once they feel China has felt the pain. China has a much higher pain tolerance and is uniquely poised to flex its economic muscle in non-traditional ways. Constant engagement with policy makers at both the state and national levels is essential to ensure that businesses have their say, no matter whichever side of the tariff war you fall. The trip by AmCham Shanghai will likely be followed by more delegations to the area to promote alternative ways of addressing issues between the U.S. and China.
The Full Surveys presented are available at AmCham Shanghai’s Website.
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