The tariff tension between the US and China is getting worse. China announced its decision to put Americans on the back burner when it comes to licensing for companies in financial services and other related industries Tuesday. This is until Washington comes to a settlement in this trade debacle.
As China runs out of American exports to penalize the US with, this decision is confirmation of the suspicion that this trade war with china will disrupt American markets and business.
According to Jacob Parker, vice president for China operations of the U.S.-China Business Council (USCBC) the license delay applies to industries Beijing has promised to open to foreign competitors, The group entails some 200 American companies that do business with China.
“There seem to be domestic political pressures that are working against the perception of U.S. companies receiving benefits” during the dispute, Parker said.