Updated May 22, 2019

Trade war: U.S. firms in China say tariffs are hurting business

A factory in China producing masks of Trump in 2016. Photo: Li Jianqiang/VCG via Getty Images

U.S.-Chinese tariff increases are hurting American business in China, 74.9% of almost 250 respondents told a survey, published Wednesday by American Chamber of Commerce (AmCham) in China and Shanghai.

Why it matters: It's another sign that the trade war is starting to bite. Bank of America-Merrill Lynch has said the standoff risks "a global recession." Now, American businesses are concerned about the effects of President Trump's action against Chinese tech giant Huawei, AmCham China chairman Tim Stratford told BBC.

The big picture: The survey, held May 16-20, found the biggest impact was a drop in product demand, with 35% of respondents saying they're restructuring their Chinese operations and about a third delaying or canceling investment decisions in China because of the trade war.

Go deeper: Tariffs on China could hit U.S. hard, too

Go deeper

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  1. Global: Total confirmed cases as of 1 p.m. ET: 1,237,420 — Total deaths: 67,260 — Total recoveries: 252,944Map.
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Cuomo says New York is "literally going day-to-day with our supplies"

New York Gov. Andrew Cuomo said in a press conference on Sunday that New York is struggling to maintain medical supplies while combatting the novel coronavirus — operating "literally" on a "day-to-day" basis.

Why it matters: New York City has become an epicenter of the coronavirus outbreak, facing mass quarantines and stay-at-home orders. Cuomo said Saturday that New York reported 630 new deaths in 24 hours — an "all-time increase" that beat the previous day's record of 562 deaths.

Illinois governor: "The president does not understand the word 'federal'"

Illinois Gov. J.B. Pritzker said on CNN's "State of the Union" Sunday that President Trump's comments about the federal government's stockpile of medical equipment suggest he "does not understand the word 'federal.'"

Why it matters: White House adviser Jared Kushner argued at a press briefing last week that the "notion of the federal stockpile was it’s supposed to be our stockpile; it’s not supposed to be state stockpiles that they then use."