The Trump administration’s export-control licensing regime is achieving little strategic benefit while costing the United States billions of dollars in lost exports and undermining American companies’ global market share, according to a new business survey.
“Months-long licensing delays are costing the United States billions of dollars in exports and eroding American market share globally,” the US-China Business Council (USCBC) found in a flash survey of companies conducted in July.
The survey also found that most of the pending export licences are for items that are “already available in China from Chinese or international suppliers – effectively sidelining American companies for no strategic gain”.
USCBC is a non-profit association of around 270 American companies that conduct business in China. The latest flash survey covered 31 companies from the technology, industrial and manufacturing, energy, and healthcare sectors.
The report comes amid ongoing tit-for-tat escalations between Washington and Beijing, as tensions over trade and technology continue to strain economic ties.