The uncertainty from the China-U.S. trade tensions is exerting significant downward pressure on both economies, U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant told CGTN.

Speaking during the China-U.S. CEOs Dialogue, Brilliant said: "As the world's two largest economies, we have shared responsibilities to foster global prosperity and stability. There are no winners in a trade war, only losers." 

"We therefore call upon the leaders in both countries to intensify efforts to conclude a meaningful, comprehensive and enforceable bilateral trade and investment agreement in a timely way," he added.  

This year's dialogue in Beijing came as Chinese and U.S. negotiators agreed to meet next month in Washington in a fresh attempt to find a way forward over the yearlong trade spat. 

Charles Freeman, senior vice-president for Asia at the US Chamber of Commerce, also said the big challenge at this time is the uncertainty hovering over ties between the two nations.

"Escalation of tariffs made it very difficult for companies to plan," he said. "Most of American companies is to here to serve here, not treat it as a platform. The American companies are looking for supply chains from different platforms, but we don't know where, and there are uncertainties," Freeman noted. 

Wei Jianguo, the vice chairman of the China Center of International Economic Exchanges, told CGTN the U.S. Chamber of Commerce reiterated they do not support the Trump administration's act of adding tariffs.

"Participants from both sides agreed that China is not a currency manipulator. Also, we can't cut the economic connection between the two countries, as we need each other," Wei said. 

According to a survey released by the U.S.-China Business Council (USCBC), the vast majority of U.S. companies said their China operations are profitable, and they remain committed to the Chinese market despite ongoing trade tensions.