Business are cancelling Asia investment as US-China trade war deepens

The US-China trade war is weighing more heavily on businesses operating in Asia Pacific, with companies reporting more delays or cancellation of investments than last year.

The impact on investment was cited by 54% of firms surveyed by the American Chamber of Commerce in Singapore, up from 50% late in 2018, it said in a report on Wednesday. More businesses than last year are also considering readjusting supply chains away from China and the US.

Over the past six months, 41% have seen a “slight” negative impact from the trade war, and 8% registered “strong” negative, while 32% reported no impact. Forty