The latest figures on U.S. manufacturing are devastatingly bad. Blame Trump.
We’ll say this for President Trump: When he misunderstands something, he misunderstands it more than anyone else in creation.
Manufacturers today are worried about a contraction in new export orders and to the cost of moving manufacturing out of China to circumvent the Trump tariffs, the ISM says. “Trade remains the most significant issue,” the institute reported. “Overall, sentiment this month declined and reached its lowest level in 2019,” says Timothy R. Fiore, chair of ISM’s manufacturing survey committee.
One reason that experts aren’t yet connecting the trade war directly to the prospects of a recession is that manufacturing accounts for about 11% of the U.S. economy. Nor does the ISM report show that higher tariffs imposed by Trump on Chinese goods have yet translated into “upward price pressures or materials shortages,”He observed that “second-order impacts from the tariffs appear to be having the more substantial impact.
That may already be showing up in new light vehicle sales in August. Those figures will be reported Wednesday and are expected to show the third straight monthly decline since they peaked at a seasonally-adjusted annualized rate of
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Column: U.S. Open: Belinda Bencic upsets world No. 1 Naomi Osaka in the fourth roundNaomi Osaka’s attempt to win a second straight championship at the U.S. Open was thwarted on Monday when Belinda Bencic of Switzerland claimed a 7-5, 6-4 victory.
Read more »
Column: Joe McDonnell would not like the direction of L.A. sports-talk radioThe late Joe McDonnell never lost faith when it came to sports-talk radio working in Los Angeles. Unfortunately, some media executives don't feel the same.
Read more »
Column: Black voters are no longer the furthest left flank of the Democratic PartyThe most liberal Democrats are more likely to be white today — and decidedly to the left of many of the party’s racial minorities.
Read more »
Column: CFPB, defying common sense, wants you to click on debt collectors’ linksA proposal from the Consumer Financial Protection Bureau would allow debt collectors to disclose people's rights via text or email links, which scam-wary consumers have been taught never to click.
Read more »
Column: Uber, Lyft and Doordash will spend $90 million to avoid paying their drivers betterUber, Lyft and Doordash have contributed a combined $90 million — or $30 million each — to back a ballot initiative that would protect them from having to classify their drivers as employees. Columnist hiltzikm explains:
Read more »
MTV’s ‘Are You the One?’ Is An Unexpected Step Forward for Queer Representation on TV (Column)Seventeen years after launching an aggressive charm offensive to convince the American public that romance can be won and lost, “The Bachelor” franchise has finally been forced to acknowledge that …
Read more »