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A survey by investment companies AmCham China and AmCham Shanghai found that 52.1% of U.S. companies operating in China have seen an increase in non-tariff barriers to their business operations. The biggest problems reported were increased inspections (27.1%), slower customers clearance (23.1%), and increased bureaucratic and regulatory oversight (19.2%.)

The Chinese government has warned that it has tools other than tariffs to use in responding to higher U.S. tariffs on Chinese exports.

Maybe numbers like these should temper current market sentiment that the U.S.-China trade war is no big deal.