Chinese Officials Warn US Executives on Tariffs

During a recent visit to Beijing, Chinese officials cautioned a delegation from the U.S. China Business Council, which included CEOs from major companies like FedEx and Micron, that higher tariffs on imports from China could adversely impact their operations within the country. The delegation's visit followed a meeting where Chinese Communist Party leaders outlined plans to enhance the business climate for foreign investors while also committing to stricter protection of state secrets. Both the U.S. and China have invoked national security to justify trade and investment restrictions, with American businesses often caught in the crossfire. While the Biden administration aims to mend U.S.-China relations, it has retained many tariffs and sanctions from the Trump era. Additionally, the Treasury Department is proposing rules to limit U.S. investments in China’s AI and technology sectors. Chinese Commerce Minister Wang Wentao emphasized that U.S. restrictions could severely impact American companies operating in China.