A new survey by the U.S. China Business Council shows surprisingly little impact from the trade war
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The same holds for private firms, with 63% saying they suspect but not are certain that they are being given a helping hand and only 9% saying they are sure of it. So 72% of American companies are fairly confident domestic Chinese firms are being subsidized. For nearly 20 years, U.S. corporations have used China as their go-to place for low cost manufacturing. Americans could by things cheaply. It's a consumer driven economy. Without cheap China, America wouldn't have hoarders and garages full of stuff they don't use.
Some $250 billion worth of China goods have tariffs as high as 25% now. Another $300 billion worth of tariffs will be in effect by the end of the year. Sixty percent of respondents cited increased costs or uncertainties and 47% blamed the political climate in China not being conducive for U.S. firms at this time. This reason was not cited in the past two surveys, despite being included as an option.
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