EU firms caught in crossfire of US-China trade war
(VOVWORLD) - European firms are "caught in the crossfire" of the US-China trade war and fewer are optimistic about their future in the world's second-largest economy, a business survey showed Monday.
According to the European Union Chamber of Commerce in China, the clash between Beijing and Washington does not benefit European companies. Chamber Vice President Charlotte Roule said current trade tensions add more uncertainty to the business environment, something that won't be sorted out quickly whether there is a deal or not.
According to the survey, the trade war is a top concern for 23% of European firms in China, trailing the Chinese economic slowdown (45%), the global economy (27%), and rising labor costs in China (23%).