AmCham China, an association of US firms in China, warned in a statement yesterday that this new round of tariffs would “cause suffering for US companies in China”. Already, it said, more than half of its members have experienced a rise in non-tariff barriers in recent months, including increased inspections and slower Customs clearance.
Senior Chinese government official Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, expressed confidence that China’s economy is strong enough to weather the worst-case scenario of the US imposing tariffs on all Chinese imports.