Spending on innovation by American multinational companies in China grew by 13.6% on average per year between 2003 and 2017 but the same spending in the U.S. by the same companies grew by only 5% on average, according to an April 2 executive order on reciprocal tariffs on China and other countries. “The US tech industry has a loud voice and despite initial strong pushback against exemptions within the White House the reality of the situation was finally recognized in the Beltway,” Ives added. Wendy Cutler, a former senior U.S. trade negotiator who is now at the Asia Society Policy Institute, also warned that the update could drive other companies and countries to seek exclusions, which could jeopardize ongoing negotiations with the Trump administration over tariffs, according to Bloomberg.
Author: John Oyewale
Published at: 2025-04-12 19:20:04
Still want to read the full version? Full article
