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That's eight percentage points higher than in 2018. USCBC represents more than 220 companies in the United States, including Boeing (BA.N), Archer Daniels Midland (ADM.N) and Hewlett-Packard (HPE.N).
Craig Allen, chairman of the USCBC, a former senior U.S. government official and China expert, urged the United States and China to return to the negotiating table to end destructive tit-for-tat tariffs and avoid lasting damage to bilateral relations.
The next round of tariffs between the United States and China will take effect on Sunday. The trade war has stirred up global markets and raised fears of a global recession.
Nearly half of the U.S. companies surveyed reported declines in sales and market share, mainly due to mutual tariffs imposed by the United States and China. Many companies also said they were worried about their competitiveness in China, given the advantages the Chinese government provided to domestic companies and other licensing, investment and administrative barriers faced by foreign companies.
According to the survey, U.S. companies say their sales are also declining, as Chinese customers increasingly see U.S. companies as unreliable business partners, taking into account the volatility of bilateral business relations between China and the United States.
Nearly 40% of the companies surveyed said their sales declined because of concerns from Chinese partners about doing business with American companies. This proportion is seven times higher than in 2018.
"In the short run, the trade war did hurt American companies." "It's easy to lose market share. It's very, very difficult to regain it," Allen said. These costs are real and may be long-term."


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