By Casey Hall

SHANGHAI (Reuters) -Political tensions, fierce domestic competition and China’s slowing economic growth are sapping the confidence of U.S. businesses in the country, with optimism about their five-year outlook falling to a record low, a survey showed.

Only 41% of U.S. firms were optimistic about their five-year China business outlook, a drop of six percentage points from last year, according to the survey published on Wednesday by the American Chamber of Commerce in Shanghai. This was the weakest level of optimism reported since the AmCham Shanghai Annual China Business Report was introduced in 1999.

The survey of 254 member companies representing a range of industries was conducted just after U.S. President Donald Trump announced his sweeping so-called “Liberation Day” ta

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