BEIJING — Many U.S. companies operating in China expect their sales to take a hit this year from U.S. President Donald Trump's tariffs and the ones that China has imposed in response, according to an annual survey released Wednesday by the American Chamber of Commerce in Shanghai.

Nearly two-thirds of the 254 companies who responded said the new tariffs have reduced expected revenues for their China operations in 2025. About one-third, many in banking and other industries that don't import from or export to the U.S., don't expect any impact.

Trump has imposed an additional 30% tax on imports from China, after raising them at one point to 145% before the two countries agreed in May to scale back a tit-for-tat tariff war. China has responded with a 10% tax on U.S. imports.

The tariffs hit

See Full Page