Most European companies in China have so far been able to limit the direct damage from the trade war, a survey has found, though a majority conceded their business environment has grown more challenging this year.

"80% Tariff on China seems right!" Trump wrote on his Truth Social platform, which would bring them down from 145 percent, with cumulative duties on some goods reaching a staggering 245 percent.

The drop in U.S.-bound shipments was offset by a surge in Chinese goods to Southeast Asia, Africa, Europe and Latin America.