Trump's tough trade talk makes U.S. firms fear China retributionCHICAGO/WASHINGTON (Reuters) - U.S. President-elect Donald Trump’s challenges to China on trade and Taiwan are rattling American companies who have long benefited from stable relations between the two countries but now fear retaliation by Beijing if Trump were to act. Trump jarred Chinese officials on Sunday by saying the United States did not necessarily have to stick to its long-standing position that Taiwan is part of “one China.” Beijing expressed “serious concern” about Trump’s remarks. Four U.S. industry sources who follow China policy closely said they were unsettled by any suggestion of abandoning the “one China” policy, which they said had served the business community well for several decades. The sources, who spoke on condition of anonymity because of the sensitivity of the issue, stressed the importance of stability for businesses. They said Beijing could retaliate against U.S. companies that do business in China if Trump takes his tougher line too far. “The Chinese are deeply concerned and we hear now from reliable sources in Beijing who suggest the Chinese government, the Communist Party, are developing lists of U.S. interests against which they could retaliate, commercial interests, and obviously one merely has to look at top U.S. exports to China to get a quick sense of whose heads may be on the chopping block,” said one China trade policy expert who interacts closely with U.S. business. The expert pointed out that more than 30 states have over $1 billion in exports to China and that there is over $500 billion in commercial engagements by U.S. companies in China. All of that would be at risk if China retaliated. “That commercial engagement supports American jobs, many American jobs here in the United States,” the expert said. Another source said there had been “quiet outreach” by the U.S. business community to Trump’s advisers but companies were wary of discussing their concerns about the China policy publicly for fear of becoming a target for the president-elect, who has singled out companies such as Carrier and Boeing. From Detroit’s car makers to Silicon Valley’s technology champions, China is both a critical source of revenue and profits, and a vital link in global supply chains.  More than four decades after President Richard Nixon upset the status quo of his time with a surprise visit to Beijing, what’s good for U.S.-China relations is good for General Motors and Starbucks and Apple and Wal-Mart Stores Inc. China has hit U.S. goods with retaliatory tariffs in the past when disputes flared. China in 2011 slapped duties on U.S.-made large cars and sport utilities as part of a trade dispute. The stakes are higher now. More than one-third of the 9.96 million vehicles General Motors Co sold globally in 2015 were delivered to Chinese customers. Profits from Chinese operations, including joint ventures, accounted for about 20 percent of GM’s global net income of $9.7 billion in 2015. Ford Motor Co’s China JVs represented about 16 percent of its global pre-tax profit of $9.4 billion in 2015.  U.S. retail giant Wall Mart Stores Inc has 432 stores in China, while coffee chain Starbucks Corp has 2,500 stores there and outgoing CEO Howard Schultz told investors China will one day be a bigger market for the firm than the United States.  Aircraft maker Boeing Co plans to build a “completion” factory in China for its 737 jets, anticipating the country will need 6,800 new jetliners worth $1 trillion over the next 20 years.   “The United States and China are in a symbiotic relationship, we are wed to each other and do best when we grow together,” said Susan Aaronson, a professor at George Washington University who teaches corruption and good governance.  The total value of U.S. trade with China was $599 billion in 2015, according to the U.S. Census Bureau, of which $116 billion was exports to China from U.S. producers, while U.S. companies imported $483 billion in goods from China.  Alan Deardorff, professor of international economics and public policy at the University of Michigan, said that if U.S.-China trade tensions were to reach a boiling point, “the pain would be widespread and deep” for U.S. businesses.  Trump and his advisers have said the U.S.-China trade deficit reflects bad trade deals and currency manipulation by the Chinese government, which they said justifies a tougher response than in the past. George Washington University’s Aaronson said that while Taiwan is a sensitive topic, if Trump pushes ahead with trade tariffs that is far more likely to translate into retaliation against U.S. firms in China. “China’s leaders need stability and Trump is totally disruptive,” Aaronson said. “They will need to signal their strength in return.” politicsNews
trump tough trade talk makes firms fear china reuters donald trump challenges china trade taiwan battling american companies long benefited stable relations two countries fear retaliation beijing trump act trump barred chinese officials sunday saying united states necessarily stick position taiwan part one beijing expressed serious concern trump remarks four industry sources follow china policy closely said unsettled suggestion abandoning one china policy said served business community well several decades the sources spoke condition anonymity sensitivity issue stressed importance stability businesses they said beijing could retaliate companies business china trump takes tougher line far the chinese deeply concerned hear reliable sources beijing suggest chinese government communist party developing lists interests could retaliate commercial interests obviously one merely look top exports china get quick sense whose heads may chopping block said one china trade policy expert interacts closely business the expert pointed states billion exports china billion commercial engagements companies china all would risk china retaliated that commercial engagement supports american jobs many american jobs united states expert said another source said quiet outreach business community trump advisers companies wary discussing concerns china policy publicly fear becoming target singled companies carrier boeing from detroit car makers silicon valley technology champions china critical source revenue profits vital link global supply chains more four decades president richard nixon upset status quo time surprise visit beijing good relations good general motors starbucks apple stores china hit goods retaliatory tariffs past disputes flared china slapped duties large cars sport utilities part trade dispute the stakes higher more million vehicles general motors co sold globally delivered chinese customers profits chinese operations including joint ventures accounted percent gm global net income billion ford motor co china vs represented percent global profit billion retail giant wall mart stores inc stores china coffee chain starbucks corp stores outgoing ceo howard schultz told investors china one day bigger market firm united states aircraft maker boeing co plans build completion factory china jets anticipating country need new retainers worth trillion next years the united states china symbiotic relationship wed best grow together said susan aaronson professor george washington university teaches corruption good governance the total value trade china billion according census bureau billion exports china producers companies imported billion goods china alan deardorff professor international economics public policy university michigan said trade tensions reach boiling point pain would widespread deep businesses trump advisers said trade deficit reflects bad trade deals currency manipulation chinese government said justifies tougher response past george washington university aaronson said taiwan sensitive topic trump pushes ahead trade tariffs far likely translate retaliation firms china china leaders need stability trump totally disruptive aaronson said they need signal strength politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Trump's tough trade talk makes U.S. firms fear China retributionCHICAGO/WASHINGTON (Reuters) - U.S. President-elect Donald Trump’s challenges to China on trade and Taiwan are rattling American companies who have long benefited from stable relations between the two countries but now fear retaliation by Beijing if Trump were to act. Trump jarred Chinese officials on Sunday by saying the United States did not necessarily have to stick to its long-standing position that Taiwan is part of “one China.” Beijing expressed “serious concern” about Trump’s remarks. Four U.S. industry sources who follow China policy closely said they were unsettled by any suggestion of abandoning the “one China” policy, which they said had served the business community well for several decades. The sources, who spoke on condition of anonymity because of the sensitivity of the issue, stressed the importance of stability for businesses. They said Beijing could retaliate against U.S. companies that do business in China if Trump takes his tougher line too far. “The Chinese are deeply concerned and we hear now from reliable sources in Beijing who suggest the Chinese government, the Communist Party, are developing lists of U.S. interests against which they could retaliate, commercial interests, and obviously one merely has to look at top U.S. exports to China to get a quick sense of whose heads may be on the chopping block,” said one China trade policy expert who interacts closely with U.S. business. The expert pointed out that more than 30 states have over $1 billion in exports to China and that there is over $500 billion in commercial engagements by U.S. companies in China. All of that would be at risk if China retaliated. “That commercial engagement supports American jobs, many American jobs here in the United States,” the expert said. Another source said there had been “quiet outreach” by the U.S. business community to Trump’s advisers but companies were wary of discussing their concerns about the China policy publicly for fear of becoming a target for the president-elect, who has singled out companies such as Carrier and Boeing. From Detroit’s car makers to Silicon Valley’s technology champions, China is both a critical source of revenue and profits, and a vital link in global supply chains.  More than four decades after President Richard Nixon upset the status quo of his time with a surprise visit to Beijing, what’s good for U.S.-China relations is good for General Motors and Starbucks and Apple and Wal-Mart Stores Inc. China has hit U.S. goods with retaliatory tariffs in the past when disputes flared. China in 2011 slapped duties on U.S.-made large cars and sport utilities as part of a trade dispute. The stakes are higher now. More than one-third of the 9.96 million vehicles General Motors Co sold globally in 2015 were delivered to Chinese customers. Profits from Chinese operations, including joint ventures, accounted for about 20 percent of GM’s global net income of $9.7 billion in 2015. Ford Motor Co’s China JVs represented about 16 percent of its global pre-tax profit of $9.4 billion in 2015.  U.S. retail giant Wall Mart Stores Inc has 432 stores in China, while coffee chain Starbucks Corp has 2,500 stores there and outgoing CEO Howard Schultz told investors China will one day be a bigger market for the firm than the United States.  Aircraft maker Boeing Co plans to build a “completion” factory in China for its 737 jets, anticipating the country will need 6,800 new jetliners worth $1 trillion over the next 20 years.   “The United States and China are in a symbiotic relationship, we are wed to each other and do best when we grow together,” said Susan Aaronson, a professor at George Washington University who teaches corruption and good governance.  The total value of U.S. trade with China was $599 billion in 2015, according to the U.S. Census Bureau, of which $116 billion was exports to China from U.S. producers, while U.S. companies imported $483 billion in goods from China.  Alan Deardorff, professor of international economics and public policy at the University of Michigan, said that if U.S.-China trade tensions were to reach a boiling point, “the pain would be widespread and deep” for U.S. businesses.  Trump and his advisers have said the U.S.-China trade deficit reflects bad trade deals and currency manipulation by the Chinese government, which they said justifies a tougher response than in the past. George Washington University’s Aaronson said that while Taiwan is a sensitive topic, if Trump pushes ahead with trade tariffs that is far more likely to translate into retaliation against U.S. firms in China. “China’s leaders need stability and Trump is totally disruptive,” Aaronson said. “They will need to signal their strength in return.” politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: trump tough trade talk makes firms fear china reuters donald trump challenges china trade taiwan battling american companies long benefited stable relations two countries fear retaliation beijing trump act trump barred chinese officials sunday saying united states necessarily stick position taiwan part one beijing expressed serious concern trump remarks four industry sources follow china policy closely said unsettled suggestion abandoning one china policy said served business community well several decades the sources spoke condition anonymity sensitivity issue stressed importance stability businesses they said beijing could retaliate companies business china trump takes tougher line far the chinese deeply concerned hear reliable sources beijing suggest chinese government communist party developing lists interests could retaliate commercial interests obviously one merely look top exports china get quick sense whose heads may chopping block said one china trade policy expert interacts closely business the expert pointed states billion exports china billion commercial engagements companies china all would risk china retaliated that commercial engagement supports american jobs many american jobs united states expert said another source said quiet outreach business community trump advisers companies wary discussing concerns china policy publicly fear becoming target singled companies carrier boeing from detroit car makers silicon valley technology champions china critical source revenue profits vital link global supply chains more four decades president richard nixon upset status quo time surprise visit beijing good relations good general motors starbucks apple stores china hit goods retaliatory tariffs past disputes flared china slapped duties large cars sport utilities part trade dispute the stakes higher more million vehicles general motors co sold globally delivered chinese customers profits chinese operations including joint ventures accounted percent gm global net income billion ford motor co china vs represented percent global profit billion retail giant wall mart stores inc stores china coffee chain starbucks corp stores outgoing ceo howard schultz told investors china one day bigger market firm united states aircraft maker boeing co plans build completion factory china jets anticipating country need new retainers worth trillion next years the united states china symbiotic relationship wed best grow together said susan aaronson professor george washington university teaches corruption good governance the total value trade china billion according census bureau billion exports china producers companies imported billion goods china alan deardorff professor international economics public policy university michigan said trade tensions reach boiling point pain would widespread deep businesses trump advisers said trade deficit reflects bad trade deals currency manipulation chinese government said justifies tougher response past george washington university aaronson said taiwan sensitive topic trump pushes ahead trade tariffs far likely translate retaliation firms china china leaders need stability trump totally disruptive aaronson said they need signal strength politicsnews