American companies that do business and make their products in China are, by a majority, “optimistic” about a Joe Biden presidency, a new survey reveals.
The American Chamber of Commerce in a Shanghai, China, the survey asked 124 business executives their opinions on a Biden presidency, to which a majority, nearly 63 percent, said they are “much more optimistic” or “more optimistic” about their doing business in the Communist country with the former vice president in the White House.
Likewise, the survey found that business executives do not expect Biden to impose more tariffs on China-made products — as President Trump did with billions of dollars worth of goods against the wishes of corporate interests.
“The majority of our respondents look at it as a positive,” Ker Gibbs, president of AmCham Shanghai, told CNBC in a phone interview. “The Biden administration would be a positive to the stability of the environment, the stability of the relationship.” [Emphasis added]
Under a Biden administration, only 5.6% of AmCham Shanghai survey respondents expect more tariffs. Instead, 70.2% anticipate new U.S. leadership will work more with other countries to put pressure on trade relations with China. [Emphasis added]
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