American businesses in China no longer expect relations between the two countries to improve from the tensions of the Trump administration, a survey found.
After President Joe Biden was elected in late 2020, there was a spike in optimism among businesses, with 45% of respondents expecting better U.S.-China relations, the American Chamber of Commerce in China's annual survey of members found.
"What we've seen over the course of the last year is that there's a new reality that has set in, where largely speaking many of the policies and sentiment of the Trump administration remain in place with the Biden administration," Alan Beebe, president, AmCham China, said Tuesday in a call with reporters.
That level of optimism has dropped to 27% of respondents in the latest survey — conducted in fall 2021 — the same as whenwas president and enacted tougher policies on China. Rising U.S.-China tensions has ranked among the top five challenges for doing business in China since 2019, the survey said.