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Trade War Adds to Woes of European Companies in China


Tuesday, 21 May 2019 18:31 WIB

Global


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The U.S.-China trade war has not spared European companies in China. More than one-third of them are feeling a direct impact on their businesses and fear the situation will worsen in the coming weeks.

“They [European companies] are feeling more anxious than they felt last year, rising tensions such as the trade tensions that we are facing currently that don’t seem to be on the point of being sorted out quickly,” European Chamber Vice President Charlotte Roule told VOA.

The trade conflict has come on top of several other problems faced by European companies in China.

“Macroeconomic challenges such as the Chinese economic slowdown and global economic slowdown are worrying them,” Roule said.

In a survey conducted last January and released Monday, the European Chamber of Commerce in China reported the trade war has impacted 25% of its members engaged in U.S.-bound exports from their operations in China.

Since January, the United States has since expanded its tariff measures against China-made goods, while Beijing has announced its own set of retaliatory measures. These moves would affect a larger number of European companies, including those that import products from the U.S.

Source : VOA


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