US firms in China fear 'retaliation' against Huawei curbs: AmCham
His comments came as the American Chambers of Commerce in China and Shanghai released a survey of its members that found that slightly more than 40% had relocated, or were considering moving production facilities, outside of China because of tariffs.A recent escalation in the US-China trade conflict, including tariff hikes from both sides, has sparked reaction from industries hit by the higher levies.
US President Donald Trump increased tariffs on $200bn worth of Chinese imports into the US from 10% to 25% earlier this month, after Washington and Beijing failed to reach a deal on trade.Image copyrightOn Tuesday, some of the world's biggest footwear firms urged Mr Trump to end the US trade war with China, warning of a"catastrophic" effect on consumers.
In a letter signed by 173 companies, including Nike and Adidas, they said the president's decision to hike import tariffs to 25% will disproportionately impact the working class."It is time to bring this trade war to an end," the firms urged. When he raised tariffs earlier this month, Mr Trump told companies that they could reduce costs by shifting production to the US.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Huawei finds itself in the crossfire of US-China trade warHuawei's future now does not depend on business or economic decisions, but geopolitical ones, writes Sky's Tom Cheshire.
Read more »
Pound extends record losses against euro as Brexit crisis builds - business liveRolling coverage of the latest economic and financial news, including the latest on the US-China trade war and new UK inflation figures
Read more »
Conspiracy theorists say Huawei phone's 50x 'spy camera' is REAL reason for banCONSPIRACY theorists are claiming the real reason for the US ban on Huawei is the astonishing 50X zoom of its mobile phones. The company was slapped with a US trade ban last week amid fears it coul…
Read more »
Donald Trump expected to sign order banning Huawei from US networksPresident Donald Trump could sign an executive order effectively banning Chinese tech giant Huawei from the US's 5G network as early as this week.
Read more »
US blacklists Huawei as Trump declares 'national emergency' over IT threatsThe president signs an order barring US firms from using telecoms equipment made by companies who pose a national security risk.
Read more »
US 'underestimates' Huawei, founder saysA dispute over Huawei has escalated with implications for the firm, the tech sector and consumers.
Read more »
'There will be conflict': Huawei founder says US underestimates company's strengthFounder Ren Zhengfei says 5G plans will be unaffected and suggests US leaders have miscalculated
Read more »
US hands Huawei and Google last minute lifeline amid fears users' phones will no longer workGoogle will continue to work with Huawei after the US government handed the technology companies a temporary reprieve from trade restrictions that threatened to cripple millions of smartphones in Britain.
Read more »
US ban on Huawei a ‘cynically timed’ blow in escalating trade war, says firmTop executive says dispute is about trade, not security, after Trump issued order aimed at cutting off firm from US supplies
Read more »
China recalls giant pandas from US zoo amid ongoing trade war between countriesBai Yun has spent more than 20 years at San Diego Zoo after arriving as a tiny cub but now the zoo's conservation loan agreement with China has been axed
Read more »
China cannot 'weaponise' US bond sales without shooting itself in the head'China cannot 'weaponise' US bond sales without shooting itself in the head,' writes Ambrose Evans-Pritchard
Read more »