China will remain at the center of global trade and sourcing, with American companies in China benefiting from positive and fair trade ties between the two countries, said Michael Hart, president of the American Chamber of Commerce in China (AmCham China).
With nearly 30 years of business experience in China, Hart has both witnessed and benefited from the growth of trade between China and the United States.
Hart revealed that according to the upcoming China Business Environment Survey Report by AmCham China, the number of U.S. companies listing China among their top three investment destinations has increased.
While Hart acknowledges that there may be some adjustments following U.S. President Donald Trump's inauguration, he remains confident that China will continue to play a pivotal role in global trade and that foreign companies will not leave in droves.
"I don't think that foreign companies are going to leave en masse. Every time there is a new administration on either side, every time a new rule is put on, companies have to pivot a little bit. But I don't think that China is not going to be the center. So, I do think China will be the center of international global trade and sourcing for a long time to come," he said.
China's trade with the U.S. in 2024 grew 4.9 percent year-on-year to 4.898 trillion yuan (668.06 billion U.S. dollars), roughly in line with China's overall growth rate of trade, according to data from the General Administration of Customs.
As an important platform for communication between U.S. businesses in China and the Chinese government and business community, AmCham China participated in 37 China-U.S. government ministerial meetings throughout 2024.
Hart stated that they oppose the imposition of additional tariffs and trade restrictions, as these measures are detrimental to American businesses.
"In general, we are not in favor of tariffs and restrictions. What I hope more than anything, is that when the Trump administration comes in, they continue to have dialogues with various stakeholders in China. Because of course we represent nearly 800 member companies who are here, who are active and have a lot to gain from positive fair trade back and forth," said Hart.
China remains key player in global trade, sourcing: AmCham China president
China remains key player in global trade, sourcing: AmCham China president
