TAIPEI (Taiwan News) – Despite apparent progress in defusing the trade war between the United States and China, half the Fortune 500 corporations were still worried about trade and tariffs, according to the U.S. Chamber of Commerce.
From late August until late November, the topic of the impact of trade and tariffs on businesses came up 1,150 times at business meetings. The retail, manufacturing and logistics sectors voiced the most serious concerns, the Liberty Times reported.
The Reuters news agency found that businesses hoped Washington and Beijing would be able to conclude a more far-reaching agreement within six months, or pessimism might deepen and impact the overall economy. The construction sector was already cutting its investment plans, while small and medium manufacturers were even more pessimistic about the future of the economy.
The U.S. and China are planning to sign a first-phase trade agreement next month, but details have not been revealed yet.