Nearly 75% of surveyed American firms voiced opposition to tariffs, according to the latest report by the American Chamber of Commerce in Shanghai (AmCham Shanghai).

The report released Wednesday was based on a survey of 333 American companies between June 27 and July 25 this year.

More respondents were against using tariffs to achieve the U.S. administration's trade and market access goals this year, according to the report. The survey showed that 74.7% opposed tariffs, while 68.8%t voiced their opposition last year.

Respondents reported an improving regulatory environment in China.

In addition, China's operational environment for foreign companies showed significant signs of progress, according to the report.

Over 59% of respondents said increasing consumption will be the top factor to benefit their industry in the next three to five years, a slight increase from last year and the year before.

Similarly, 40% of those increasing investment in China in 2019 reported doing so due to the growth potential of the Chinese market.

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