A new survey from Deutsche Bank points to rising mutual acrimony between the consumer bases of China and the United States in the wake of the COVID-19 pandemic.
The survey conducted by Deutsche Bank’s dbDIG platform found that 41% of Americans would not purchase a “Made in China” product again, while 35% of Chinese consumers would avoid purchasing “Made in USA” products.
Deutsche Bank analyst Apjit Dalia said that rising distrust of Chinese products amongst Americans had received impetus from remarks by US officials and politicians, in particular President Donald Trump.
“Tempers and emotions are running high in both populations and the politicians know this very well, making the matter more complicated as it is an election year in the US,” Walia said.
Another survey produced by Washington-based FTI Consulting found that a staggering 78% of Americans were willing to pay more for products made by a company that relocated its manufacturing operations from China.
55% of respondents to the FTI Consulting survey said that they do not trust China to uphold its commitments in relation to the phase one trade deal with the US that was signed in January.