American companies are under pressure … the trade war cannot continue

US companies that operate in China they hope in a meeting between presidents Joe Biden and Xi Jinping questyear, according to a new poll, as they seek to ease trade barriers raised during the Trump era.

More than 60% of the members of the American Chamber of Commerce in China respondents cited the need to restore regular visa services for businessmen and their families, according to a survey released by the group on Friday.

Another 47% called for tariffs to be canceled, with over three-quarters of companies complaining about the impact of the measures imposed during trade war on their operations.

Telephone conversation

The White House has announced that the US president has had telephone talks with his Chinese counterpart, the first in seven months, in an attempt to ensure that the “competition” between the two countries does not change in a “conflict”.

A senior US presidency official told reporters, on condition of anonymity, that during the phone call, Biden told his Chinese counterpart that the US wanted “the momentum to remain competitive and that we are not in future in a situation in which we enter in an unintended conflict “.

This is the first telephone conversation between the two presidents since February, when Biden had just succeeded Donald Trump and spent two hours on the phone with the Chinese president. Relations between Washington and Beijing went through a difficult time under Trump, which sparked a trade war between the two world superpowers.

Despite its defense of multilateralism and its call for an end to Trump’s “America First” policy, the Biden administration has maintained the former Republican administration’s tariffs on Chinese goods and has adopted a tough policy on other points of contention among the two countries.

However, the senior White House official acknowledged that the diplomatic stalemate between the two countries could not continue, warning that maintaining the status quo between Washington and Beijing carries risks.

Rebuilding relationships

The findings suggest that companies have realized they first need to improve relations that have remained strained despite Biden’s defeat of former President Donald Trump in November. About 54% of the respondents asked for “regular contacts between the two governments to rebuild relations”, while 38% wanted the Biden-Xi summit in quest’year.

Although the camera did not disclose the names of the 125 companies that took part in the survey last month, among its members include the Chinese subsidiaries of some of America’s most famous brands, such as Boeing, Coca-Cola and Walt Disney.

“The state of US-China public relations is more important than ever to the business community, as members prioritize tangible results and actions as a way to restore trust between the two countries,” Greg Gilligan, Speaker of the House of American trade in China, he said in a note.

face to face

The prospects for a face-to-face confrontation between the leaders of the world’s two largest economies seem uncertain. Xi hasn’t traveled out of China for around 600 days as Beijing imposes strict controls against the epidemic, dwarfing hopes of a meeting with Biden on the sidelines of the upcoming UN General Assembly in New York or the G20 summit. in Italy.

The Chinese president has yet to confirm his presence at the G20 meeting, according to a senior European government and diplomat. The official cited the COVID-19 measures as why Xi did not attend in person, Bloomberg reported.

High-level talks between key US envoys, including Secretary of State Anthony Blinken and climate envoy John Kerry, have so far highlighted differences with little or no results. Treasury Secretary Janet Yellen, who has expressed doubts about the effectiveness of tariffs under Trump, is said to be considering a visit in China.

The survey indicated that companies suffer from a greater impact of tariffs. Only 22 percent of respondents reported no effect of these measures, compared to 43 percent in the House’s Business Climate Survey last year.

Last month, more than 30 U.S. trade groups, including the U.S. Chamber of Commerce, the U.S. Farm Bureau Federation, and the Semiconductor Industry Association, called on the Biden administration to remove tariffs, which they said were hurting the US economy.

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