About a fifth of U.S. companies in China are considering moving some or all of their production out of the country to deal with the trade tensions, and a third are delaying or canceling investment decisions, according to a survey of 239 American firms in the market.
Almost 40% of companies said the hike of U.S. tariffs announced May 10 would have a strong negative impact on their business, and a third said the increase in Chinese levies would do the same. The report provides evidence of a decoupling of the two nations' economies, with 35% of firms saying their main strategy for dealing with the tension was to restructure so their operations were more heavily “in China for China.”
So far, the effect of the trade dispute has mostly been financial, with companies seeing decreased demand, rising costs and falling profits and revenues, according to the survey done May 16-20 by the American Chamber of Commerce in China and the American Chamber of Commerce in Shanghai.
Since 2013, Walmart hires 5,995 state vets
On the anniversary of its Veterans Welcome Home Commitment, Walmart announced it has had more than 226,000 veteran hires since its launch in 2013, including 5,995 in Indiana.
The Veterans Welcome Home Commitment guarantees a job offer to any eligible, honorably discharged U.S. veteran.
Rodney Walker, a regional general manager for the retailer, said Walmart has also prioritized the hiring of military spouses.
Walmart is “proud to be able to provide these brave men and women with quality jobs as they make so many sacrifices while their loved ones serve our country,” Walker said in a statement.
“Combine this great news with the latest report of Walmart hiring nearly 6,000 Hoosier veterans and there's no doubt we can achieve any goal we set our minds to,” he said.
“In 2013, this company pledged to hire 250,000 veterans by 2020, and we're proud to see that we're moving closer to meeting that number.”
Lowe's eyes Dallas for technology hub
Home improvement retailer Lowe's Cos. is scoping out the Dallas area to locate a new technology hub, according to the Dallas Regional Chamber.
Lowe's chief information officer Seemantini Godbole, who came to Lowe's from Target six months ago, told the Charlotte Observer that Charlotte and Dallas are both under consideration and the decision would be made by the end of the summer.