China is putting off accepting license applications from China companies due to the ongoing tariff battle between China and the US , according to Parker , vice president for China operations of the US -China Business Council ( Cabinet ). China had previously earmarked financial services and other industries as open to foreign competitors. This marks the first public acknowledgement that access to US and its markets might be disrupted. Jacob Parker revealed that Chinese cabinet-level officials had said they were putting off applications "until the trajectory of the US - China relationship improves and stabilises."
China is putting off accepting license applications from US companies due to the ongoing tariff battle between China and the US, according to Jacob Parker, vice president for China operations of the US-China Business Council (USCBC). China had previously earmarked financial services and other industries as open to foreign competitors. This marks the first public acknowledgement that access to China and its markets might be disrupted. Parker revealed that Chinese cabinet-level officials had said they were putting off applications "until the trajectory of the US-China relationship improves and stabilises."