Visitors try out a Baojun E100, the first fully-electric vehicle of SAIC-GM-Wuling Automobile Co, a joint venture between SAIC Motor, General Motors, and Liuzhou Wuling Motors Co, in Qingdao, East China's Shandong Province on August 23, 2017. Photo: IC

Fallout from the deadly COVID-19 is weighing on operations of some US companies in China, with about 10 percent seeing daily losses of 500,000 yuan ($71,210), according to a report released by a US business group on Thursday.

Some US firms worry that the epidemic will cast a new shadow on bilateral trade relations between the world's two largest economies, which have already soured in a relentless trade war which the US initiated in 2018.

The delayed resumption of businesses across China has inflicted economic losses on US firms, according to a report sent to the Global Times by the American Chamber of Commerce in China. 

About 50 percent of surveyed US companies expect their revenues in China to decline if business does not return to normal before April 30, the report showed. And, 20 percent of American companies say their losses will mount to more than half of last year's profits, if the epidemic extends through August 30.

Nearly one-third of US enterprises now face increased costs and dented revenues in China. They acknowledged that the most severe challenges come from logistical disruptions and reduced staff productivity. 

Amid China's sweeping and decisive measures to combat the virus, about one-third of US firms expected to return to normal business by the end of March. But still, 12 percent said the delay and the loss could extend to the summer.

While uncertainties persist over when the virus will come under control and how long its effect on US companies will last, about 25 percent of American companies surveyed said they won't change their investment plans in China. 

Another 50 percent of US firms said it is still too early to determine the impact of COVID-19 on their investments in China. Some are concerned that the new epidemic will further dampen China-US bilateral relations. 

The US' China travel ban, issued on January 30, has been criticized by observers as an overreaction and a prejudiced act that has seriously impeded normal bilateral economic activities and people-to-people exchanges.

According to the survey, more than half of the US companies hope Washington will relax its travel restrictions. Some also hope to be provided with further information on the implementation of the phase one trade deal and business policies related to COVID-19.