By Laura Kelly
Staff Writer
The Hill
American businesses are wary of the growing animosity between the U.S. and China, particularly as Trump administration officials are starting to name and shame companies they see as bowing to Beijing.
The business community is closely tracking speeches and other public remarks from officials like Secretary of State Mike Pompeo, and they’re increasingly concerned over rhetoric in recent weeks that paints China as the number one national security threat to the U.S.
But firms aren’t making any quick moves to exit the world’s second-largest economy. While the global COVID-19 pandemic has prompted some businesses to seek additional supply chains elsewhere, they’re still hopeful Washington and Beijing will find a way to patch things up.
“In general, American companies oppose the Trump administration’s views on China,” said Shaun Rein, founder of the China Market Research Group.
“They make a lot of money here, they don’t want to leave. The only time they want to leave is to duplicate supply chains.”
Administration officials, however, are putting public pressure on several high-profile companies by characterizing competition between the two countries as an ideological battle for the future of the free world. In doing so, they have pointedly attacked American companies doing business with China.