William Zarit, chairman of the American Chamber of Commerce in China, said the U.S. threat of tariffs appeared to have been “somewhat effective”.
“I don’t think it is only a tactic, personally,” he told reporters on Wednesday, adding that the group does not view tariffs as the best way to address the trade frictions.
“The thinking became that if the U.S. doesn’t have any leverage and there is no pressure on our Chinese friends, then we will not have serious negotiations.”