US, EU, German business chambers in China brace for ‘long-lasting’ trade war
Some say China-US strife offers an opportunity for other third countries to re-evaluate their relationship with China
Foreign business chambers in China say that companies from their respective countries are worried in the face of mounting uncertainties from the intensifying trade war with the US, fearing that this could be just the beginning.
Among them are American firms, who contend that higher tariffs will hurt consumers around the world.
“Many of our member companies, and upstream and downstream partners, rely on the flow of goods to and from the US. The reciprocal tariffs and China’s countermeasures will have a significant, long-lasting impact,” the American Chamber of Commerce in Shanghai’s president, Eric Zheng, said in a statement to the Post.
“It is in the best interest of both countries to negotiate and find alternative measures to manage trade disputes … AmCham Shanghai is committed to the principles of free trade and open markets,” Zheng added.
Meanwhile, a former chair of AmCham China said that the way the Trump administration goes around slapping tariffs will not help the broad swathe of American firms in China.
“Threats and bullying by the White House won’t help American business achieve greater market access for American goods and services,” said James Zimmerman, who is now a Beijing-based lawyer.