American automakers suffered most from the trade war between the US and China


Trade disagreements between the US and China had the greatest negative impact on American automakers in China. This is evidenced by the data of the poll of American chambers of commerce in Beijing and Shanghai, CNBC reports. This summer, the PRC and the United States introduced reciprocal duties on goods worth $50 billion. Duties on the import of American cars in China were raised to 40%. 75% of respondents reported that Chinese duties caused damage to business. Many expect even more damage from additional duties on Chinese goods for $200 billion and similar duties on the part of China. The survey also showed that as a result of the introduction of duties by both countries, the profits of companies were declining, their production costs were increasing. This forces a quarter of survey respondents to move their production from China to East Asia.

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