SINGAPORE (May 22): The increases in US and Chinese tariffs are having a negative impact on their businesses, according to 74.9% of respondents in a recent survey by AmCham China and AmCham Shanghai of its member companies.

This negative impact was higher for manufacturers at 81.5% for US tariffs and 85.2% for Chinese tariffs and felt through lower demand for products (52.1%), higher manufacturing costs (42.4%), and higher sales prices for products (38.2%).

The joint survey by AmCham China and AmCham Shanghai from May 16-20 to assess the impact of the increase in US and Chinese tariffs on member companies operating in China received nearly 250 responses, with 61.6% manufacturing-related companies, 25.5% from services, 3.8% from retail and distribution, and 9.6% from other industries.

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