US-China visa services, Xi-Biden meeting among top priorities for AmCham firms
- Business group survey finds corporate desire for practical communication between the governments of the two countries
- Most companies say tariffs on both sides damaging their operations in China
More than 60 per cent named the resumption of regular visa services for business executives and their dependents while 54 per cent highlighted the need for trust to be rebuilt through regular government communication focused on “concrete results and actions”.
US-China trade growth has Australia asking whether WTO can stop ‘economic coercion’
In a discussion meant to help manage the rising risk of conflict between the two powers, Xi called for China and the US to show “strategic and political courage to push China-US relations back to the right track of stable development as soon as possible”, according to China’s foreign ministry.
Agence France-Presse quoted a senior US administration official as saying that Biden underlined the responsibility of both sides to make sure that “we don’t have any situation in the future where we veer into unintended conflict”.
It is still not certain when and if the two leaders will meet in person, with Beijing yet to confirm whether Xi will go to Rome for the Group of 20 summit in late October.
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Trade War: US and China sign breakthrough ‘phase one’ deal
The war included a range of tariffs that the Biden administration has so far maintained.
But nearly 80 per cent of the firms in the AmCham survey felt that bilateral tariffs were having a negative impact on their businesses in China, mainly through higher manufacturing costs, declining market demand and loss of business to competitors.
In a previous survey late last year, over 40 per cent of respondents said the tariffs had no impact on their operations in China.
Last month, more than 30 US trade groups, including the US Chamber of Commerce, the American Farm Bureau Federation and the Semiconductor Industry Association, called on the Biden administration to remove tariffs, which they said were harming the American economy.