US business ‘friends’ staying out of trade war as they try to push China to act, sources say
Beijing’s lack of progress on promised reforms said to undermine support from American business community in China
Beijing risks losing key support from the US business community in China amid the escalating trade war because those companies are frustrated about the lack of progress on long-promised market reforms, according to sources familiar with the situation.
The assessment came ahead of a fresh round of talks between officials from the two sides aimed at reducing trade tensions.
US companies with an extensive market presence in China have been seen as an effective channel to lobby on Beijing’s behalf and to influence policymakers in Washington, and Chinese officials have sought their support to press the White House to de-escalate the trade war. But their US business “friends” from past decades have so far been reluctant to speak up for the Chinese government, the sources said.
“They are unsatisfied with the market-competition situation in China and want to keep pressure on the Chinese government until it takes moves to address their concerns,” said a Chinese government adviser on trade issues, speaking on condition of anonymity.
