An official of a U.S. business group says Chinese regulators are putting off accepting license applications from American companies in financial services and other industries until the two countries resolve a worsening tariff dispute.
The disclosure Tuesday is the first confirmation of fears among U.S. companies that the battle over Beijing’s technology policy might disrupt access to China.
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The vice president for China operations of the U.S.-China Business Council, Jacob Parker, said the delay applies to industries Beijing promised to open to foreign competitors.
Parker said officials told his group that applications from American companies won’t be accepted “until the trajectory of the U.S.-China relationship improves and stabilizes.”
Parker said the government doesn’t want to appear to give benefits to American companies in the midst of the dispute.