Share of U.S. companies in China looking to relocate hits a record high, survey finds
A record share of U.S. companies in China are accelerating their plans to relocate manufacturing or sourcing, according to a business survey released Thursday.
BEIJING — A record share of U.S. companies in China are accelerating their plans to relocate manufacturing or sourcing, according to a business survey released Thursday.
About 30% of the respondents considered or started such diversification in 2024, surpassing the previous high of 24% in 2022, according to annual surveys from the American Chamber of Commerce in China.
That also exceeded the 23% share reported for 2017, when President Donald Trump began his first term and started raising tariffs on Chinese goods.
In addition to U.S.-China tensions, “one of the major impacts that we’ve seen in the last five years was Covid and how China closed itself off from the world because of Covid,” Michael Hart, the Beijing-based president of AmCham China, told reporters Thursday.
“That’s been one of the largest triggers as people realized they needed to diversify their supply chains,” he said. “I don’t see that trend slowing down.”
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