BEIJING – China’s state media have lauded several US companies for their “strong collaboration” with Chinese partners, a move seen as an attempt to ease fears of an escalating trade war following Donald Trump’s tariff threats.
Trump, who is set to take office on January 20, recently announced plans to impose a 10% tariff on Chinese goods, citing the need for Beijing to address the flow of Chinese-made chemicals fueling the opioid crisis in the United States. On the campaign trail, he also threatened tariffs exceeding 60% on Chinese imports.
As tensions rise, Chinese state outlets, including the Global Times, have commended firms like Apple, Tesla, Starbucks, and HP for their commitment to working with China. “US politicians need to pay attention to and respect the evident willingness of American businesses for economic and trade cooperation by tailoring suitable policy environments for enterprises,” the Global Times wrote on November 27.
Similarly, the China Daily highlighted Morgan Stanley’s recent regulatory approval to expand operations in China as an example of foreign investors’ enthusiasm for the Chinese market.
During Trump’s first presidency, US businesses closely monitored Chinese state media for hints of which companies were favored or potentially at risk amid the trade dispute. At the time, Beijing introduced an “Unreliable Entity List” targeting US companies like Apple and Qualcomm, though it only ever included firms involved in arms sales to Taiwan.
Experts predict Beijing may tread cautiously if Trump proceeds with the new tariffs. “The Chinese government, given the foreign investment situation here, is mindful that this kind of tactic will have some backlash,” said Bo Zhengyuan, a Shanghai-based partner at consultancy Plenum.
While Beijing has yet to officially respond to Trump’s recent tariff announcement, a Chinese embassy official in Washington warned that “no one will win a trade war.”
US businesses are showing signs of concern. A September survey by the American Chamber of Commerce in Shanghai revealed that only 47% of US firms remain optimistic about their five-year outlook in China.
Observers expect both sides to carefully weigh their next steps, with China mindful of the potential collateral damage to its struggling economy. However, as a Beijing-based American executive put it, “Business leaders will be watching closely, reading the tea leaves in both traditional and social media, just as they did during Trump’s first term.”