US businesses count cost of trade conflict

US companies in China have also taken a hard hit from the trade conflict. According to a survey by the US-China Business Council, or USCBC, 86 percent of its members report that bilateral trade tensions have affected their business with China. Despite the "dented" competitiveness in China, Craig Allen, president of the USCBC, said at a webinar in August that US companies in China "remain quite profitable and commercially successful, and our companies are not withdrawing from the Chinese market at all."