How China – US trade war affects EU
A quarter of European companies with activities in China say that they are affected by the trade dispute between China and the US.
This is according to a new report from the European Chamber of Commerce in Beijing. According to Charlotte Roule, director of the European Chamber of Commerce, the trade war between China and the US leaves negative effects. She says that some European companies are even considering relocating their factories away from China, but not the majority yet.
In the survey, completed by 585 entrepreneurs:
4% claim to experience “positive effects” from the trade dispute
57% don’t feel direct impact of the trade war
38% experience the rates as negative
Relocating factories away from China is not cheap. Companies choose China because they want to take advantage of the huge market. Ten percent of the companies have moved or are considering moving. In most cases, Eastern Europe or cheaper Southeast Asian countries are chosen to bypass American taxes.