European Union Chamber of Commerce in China, also carried out a survey regarding US-China tariff war. Results showed that 53.9% responding said US tariffs on China affected their company. 42.9% said China tariff on US products affected their company. There is, roughly 11% difference. The Chamber said that “the high rate of negative views on either side of the trade war is emblematic of the degree of interconnectivity in the global economy.” But at the same time 72.5% said they’re taking no action to cope with the trade war, but just monitoring the situation.
Mats Harborn, president of the European Union Chamber of Commerce in China said “the effects of the US-China trade war on European firms in China are significant and overwhelmingly negative.” The Chamber shared the concerns regarding China’s trade and in vestment practices. However, Harborn warned that “continuing along the path of tariff escalation is extremely dangerous”. He added “it threatens to dismantle the entire global, rules-based system at a time when we should be working together to modernise it.”
