ZCZC
BCN-22
US-CHINA-ENTERPRISES-TRADE
Export enterprises hope for improved China-U.S. trade ties
GUANGZHOU, July 11, 2019 (BSS/Xinhua) — Chen Wei is expecting better
prospects for his company’s export business as China and the United States
recently agreed to restart economic and trade consultations.
“I hope the bilateral economic ties will improve and the interests of
enterprises and consumers in both countries will be better protected,” said
Chen, vice president of Seagull Kitchen and Bath Products Company in the
southern Chinese city of Guangzhou.
On the sidelines of the G20 Osaka summit, China and the United States
agreed to continue to advance a relationship featuring coordination,
cooperation and stability, and restart their economic and trade consultations
on the basis of equality and mutual respect.
Some exports from Seagull were subject to additional tariffs by the U.S.
“The added cost was taken on by our American clients after negotiation,” he
said.
The company’s exports to the U.S. grew by 13 percent in 2018, and the
growth momentum continued during the first half of this year.
According to the American Chamber of Commerce in South China, among 240
multinational enterprises surveyed, 54 percent of the U.S. companies said
they are losing market shares due to the added tariffs.
Golden Sea is a Guangzhou-based lighting equipment producer, and the
American market accounts for one third of its turnover.
Lao Jiewei, board secretary of the company, said some American customers
required a price adjustment and some even wanted to cancel their orders after
the additional tariffs were imposed.
After negotiation, the additional cost is shared by the consumers, the
clients, Golden Sea itself as well as the suppliers, he said.
The company plans to explore the European and Japanese markets. “We can’t
put all our eggs in one basket,” Lao said. “What we are most worried about is
that the trade friction will reduce customers’ confidence.”
At a recently held press conference, spokesperson Gao Feng with China’s
Ministry of Commerce expressed hope that China and the U.S. will seek
mutually beneficial and win-win solutions to create a stable and predictable
trade and investment environment for enterprises of the two countries and the
rest of the world.
Harley Seyedin, president of the American Chamber of Commerce in South
China, said China is an important market for the world. He hopes the two
sides will solve the friction through cooperation and dialogue.
BSS/XINHUA/HR/1440