CHINA TRADE DISPUTES PUT FIVE TENNESSEE PROJECTS ON HOLD
J. Steven Hiatt
Director, Existing Business Development at Chattanooga Area Chamber of Commerce
CHINA TRADE DISPUTES PUT FIVE TENNESSEE PROJECTS ON HOLD
As home to 967 foreign-based businesses that have invested more than $37 billion in Tennessee, the Volunteer State was twice recognized in the past three years as the No. 1 state in the country for foreign direct investment.
But Tennessee’s top economic recruiter said Monday he worries a trade war will curb global trade and foreign investment into the state.
“Unfortunately, we’re aware of at least five major projects that were considering significant capital investment in the U.S. where Tennessee was working as a finalist but those projects are now on hold pending a resolution of the China-U.S. trade talks,” said Bob Rolfe, commissioner for the state Department of Economic and Community Development. “We’re for free trade and no tariffs with fair trade right down the fairway.”