Nearly half of U.S. businesses have redirected investments from China to other regions, according to the American Chamber of Commerce in Shanghai. The survey showed 47% of respondents shifted investments to Southeast Asia, with India as the second most popular destination.

U.S. tariffs on Chinese goods are nearly 58%, while China’s tariffs are around 33%. The trade truce between the two countries has been extended by another 90 days. Companies like Apple, Ford, Honeywell, Meta, and Tesla are among the members of AmCham Shanghai affected by tariffs.

Despite concerns over trade tensions, the local regulatory environment in China has improved according to the survey. Nearly half of respondents said the regulatory environment was transparent, a significant increase from previous years. Beijing has been making efforts to attract and retain foreign investment with friendlier policies and increased engagement.

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1. Apple unveils new iPhone 13 with improved cameras and larger battery life. The tech giant also announces new Apple Watch Series 7 and iPad Mini. Pre-orders start Friday with availability on September 24.

2. U.S. jobless claims fall to lowest level since March 2020, signaling improving labor market. Claims drop to 310,000, beating economists’ expectations. Hiring remains strong amid ongoing pandemic recovery.

3. Pfizer-BioNTech submit data to FDA for COVID-19 vaccine booster shot approval. Companies seek authorization for third dose in effort to enhance protection against Delta variant. FDA advisory committee meeting scheduled for September 17.: Record share of U.S. businesses divert China investments: AmCham Shanghai