US export controls impact American firms: Report
A new survey from the US-China Business Council shows that more than a third of US companies in China are struggling because of strict US export rules.
Even though 82% say they're still turning a profit this year, less than half feel good about their future there.
Nearly 40% firms lost sales, customer trust
About 40% of these companies have lost sales and seen customer trust take a hit thanks to the export restrictions.
It's not just tech or semiconductors—other industries are feeling it too, as Chinese firms get more competitive and supply chains shift.
Being in China key to compete globally: USCBC President
USCBC President Sean Stein put it simply: being in China is key if American businesses want to compete globally.
Nearly one-third have already lost market share over the past three years, and most expect things to get even tougher soon.
The message is clear—trade tensions and new rules are making business harder for US firms trying to keep up in China.