The growing trade conflict between the United States and China is hitting German companies operating in both countries, according to a survey conducted by the German Chamber of Industry and Commerce.
China has warned the United States that it would respond if the Trump administration took further trade-distorting steps, with the United States considering a 25-percent tariff on Chinese goods worth $ 200 billion.
US tariffs target thousands of Chinese imports, including food products, chemicals, steel, aluminum and consumer goods.
In a survey conducted by the Chamber of Industry and Commerce among its members working in China, 41 percent were already affected by the rise in export duties to the United States, while 46 percent reported rising import costs from the United States.
Of the German companies operating in the United States, 57% reported negative impacts when exporting to China, while 75% reported disadvantages such as rising import costs from China. To avoid rising costs of reciprocal tariffs, many German companies operating in the United States are studying the closure and transfer of production sites to other countries.
The United States is the largest destination for export in Germany, while China is the most important trading partner in the total trade volume of German companies.
