plummeted to a nine-year low of $5.4 billion in 2018, down 88% from an all-time high of $ 46.5 billion in 2016, according to data research firm Rhodium Group. Chinese companies are withdrawing from the US as the trade dispute slows down . Huawei ’s US manufacturing division Futurewei has cut 70 % of its workforce after it was placed on a US export blacklist . The layoffs will mostly affect US employees ; Chinese staff have been offered jobs in China . Meanwhile , Chinese electric car companies Honda and NIO have reduced roles at their offices in Silicon Valley , where Chinese venture capital company Sinovation Ventures has also set up shop .
Chinese companies are withdrawing from the US as the trade dispute slows down . Huawei ’s US manufacturing division Futurewei has cut 70 % of its workforce after it was placed on a US export blacklist . The layoffs will mostly affect US employees ; Chinese staff have been offered jobs in China . Meanwhile , Chinese electric car companies Honda and NIO have reduced roles at their offices in Silicon Valley , where Chinese venture capital company Sinovation Ventures has also set up shop .