As the Sino-US trade frictions intensified, Jiangsu’s export growth rate dropped significantly in the second half of the year. Although the export situation was slightly better than that of Guangdong Province, with the escalation of trade frictions, the pressure on business operations, foreign capital transfer, and industrial upgrading caused by trade frictions deserves much attention. To minimize the impact of Sino-US trade frictions, on the one hand, the government and enterprises should actively reduce costs, encourage enterprises to increase R & D, actively rely on the domestic market and inter-regional cooperation, take technological innovation and product quality upgrades as the direction, and strengthen the dependence of American enterprises on us with quality advantages and supporting capabilities; on the other hand, we must actively promote market diversification strategies to reduce our dependence on the US market. In addition, it is necessary to explore the establishment of a compensation mechanism for the interests of enterprises damaged by trade frictions.
