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BEIJING, Nov 9 (APP): Despite recent volatility in US-China trade relations and broader global uncertainty, American companies are showing their ongoing commitment to the Chinese market. At the 8th China International Import Expo (CIIE) in Shanghai, US companies once again claimed the largest exhibition space for the seventh year in a row.
Many business leaders and chamber representatives expressed strong confidence in China’s high-level openness and its strategy for sustainable, high-quality development. They stressed that a stable US-China relationship is key to their continued success in the market.
In response to recent claims that US companies are pulling out of China, Myron Brilliant, Senior Counselor at DGA-Albright Stonebridge Group, firmly rejected this notion. After speaking with executives from more than 50 American businesses in China, he found no evidence that any planned exits were underway. On the contrary, many of these companies are deeply invested in research and innovation in China, with some playing a significant role in the local economy and partnering with Chinese firms to explore third-party markets, CEN reported.
Energy giant ConocoPhillips reaffirmes its optimism about China’s economic vitality. The company pointed out that China’s dynamic market offers tremendous growth opportunities for foreign businesses. The healthcare sector is equally confident. Medtronic’s Global Senior Vice President and President for Greater China, Alex Gu, predicted that China will soon become the world’s largest medical market. This positive outlook is driving US medical companies like Johnson & Johnson, Merck, and Pfizer to increase investments and fast-track the commercialization of their cutting-edge products through platforms like CIIE.
Recent changes in US-China tariff policies have provided greater clarity and certainty to the market. On November 4, the White House announced that it would remove the 10% so-called “fentanyl tariff” on Chinese goods starting in 2025, and extend the suspension of the 24% “countervailing tariff” for another year. On November 5, China made its own corresponding adjustments.
These policy moves have been welcomed by the American business community. Eric Zheng, President of AmCham Shanghai, described the reduction of the so-called fentanyl tariff as “good news for businesses,” noting that high tariffs have long been a burden for thousands of import-export companies. Jeffrey S. Lehman, Chairman of AmCham, added that the stable policy framework allows companies to make long-term plans, which is crucial for further strengthening US-China economic ties.