A worker inspects wheel hubs at a factory in the Jiangsu Province of China. Photo: VCG/VCG via Getty Images

Businesses are not abandoning China in droves as a result of President Trump's trade war. But business leaders are annoyed and making changes.

By the numbers: In a recent Bain & Co. survey of more than 200 senior executives at U.S. multinational companies with operations in China, 60% of respondents executives largely support tariffs on China — while 60% also said they expect their business to face cost headwinds due to the U.S. tariffs on Chinese goods.

The big picture: Few of the executives think China's retaliatory tariffs are "fair" and most don't like the tariffs' results.

  • More than 65% of electronics and industrial manufacturers believe they will see negative impacts.
  • Only 40% of respondents believed that the tariffs would ultimately lead to more U.S. jobs.

In the next 12 months, more than 40% of the executives said their companies planned to take actions like finding new sourcing partners and new regions to source raw materials.

  • 39% said they will look to renegotiate supplier contracts.
  • 33% said they planned to pass costs on to customers.

Go deeper: Trump delays tariff hike after "substantial progress" with China

Go deeper

Former officer who shot Breonna Taylor indicted on wanton endangerment

A memorial to Breonna Taylor in downtown Louisville, Kentucky on Sept. 23. Photo: Jeff Dean/AFP via Getty Images

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March and shot her at least eight times, on three counts of wanton endangerment.

The state of play: None of the three officers involved in the botched drug raid will face charges related to the actual death of Taylor, such as homicide or manslaughter. The two other officers, Jonathan Mattingly and Myles Cosgrove, were not charged at all. Hankison's bond was set at $15,000.

FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

CEO confidence rises for the first time in over 2 years

Data: Business Roundtable; Chart: Naema Ahmed/Axios

A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable.

Why it matters: The index, which still remains at a decade low, reflects corporate America's expectations for sales, hiring and spending — which plummeted amid uncertainty when the pandemic hit.

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