US firms in China: Tariffs will hurt them

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The US imposition of extra levies on 200 billion US dollars' worth of Chinese imports hurts the US businesses in China instead of convincing them back to the US soil, according to the trade group on behalf of US businesses' interest in China.

US President Trump further intensified the trade disputes by "adding oil"- imposing 10 percent tariff on Chinese goods on Monday, aiming to "persuade" US companies in China back to their homeland.

On the contrary, nearly half of the China-based US firms were anxious about the severe detrimental effect on their businesses due to the latest escalation, according to the American Chamber of Commerce (AmCham) in China.

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No one would benefit from the counterproductive cycle, said William Zarit, chairman of AmCham.

Trump's expectation of getting US firms back was misplaced, Zarit added.

In reality, only six percent of AmCham's member enterprises consider moving their businesses back to American soil, according to the statement released by the trade group.

Unlike the self-harm tariffs imposed by their motherland, China offers them more favorable policies.

China will be more open to multinationals and further improve the protection of intellectual property, expressed by Zhong Shan, Chinese Commerce Minister, on Monday's talks with representatives from transnational enterprises.

China has also offered more chances for foreign investments like approving Tesla to build a production line in Shanghai in July.

Under the pressure of additional tariffs, AmCham is looking forward to a negotiation between China and US to bring a real result.

(Dong Yuwen contributed to the story.)