BEIJING (AP) – A U.S. business group says American companies in China are uneasy about Washington’s threat of export and investment controls in a trade dispute with Beijing but see them as a possible way to achieve fairer operating conditions.
William Zarit, chairman of the American Chamber of Commerce in China, said Wednesday that companies hope Beijing can be persuaded to ease curbs on investment and business activity.
Commerce Secretary Wilbur Ross is due in Beijing on Saturday after the White House renewed its threat of 25 percent tariffs on $50 billion of Chinese goods. Washington proposed curbs on Chinese investment and purchases of high-tech goods.
FILE – In this May 4, 2018, file photo, U.S. Commerce Secretary Wilbur Ross leaves his hotel in Beijing. An American business group appealed to China to allow more access to its state-dominated economy ahead of a visit by Ross for trade talks. The American Chamber of Commerce in China said Wednesday, May 30, 2018, that foreign companies welcome Chinese leaders’ promises to ease restrictions but said they have yet to follow through on earlier pledges. (AP Photo/Mark Schiefelbein, File)
Zarit said companies don’t favor investment and export restrictions but want equal treatment “and this seems to be one of the ways to do that.”
FILE – In this Nov. 9, 2017 file photo, President Donald Trump and Chinese President Xi Jinping shake hands during a joint statement to members of the media Great Hall of the People in Beijing, China. The U.S. is announcing that it will impose a 25 percent tariff on $50 billion worth of Chinese goods containing “industrially significant technology.” The White House said Tuesday, May 29, 2018, that the tariff will cover goods related to the “Made in China 2025” program. The full list of imports that will be covered will be announced by June 15. (AP Photo/Andrew Harnik, File)
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