You thought we were in a trade war, manufacturers? You’ve seen nothing yet.
Last week, the U.S., under President Donald Trump, broke off trade talks with China aimed at ending a trade war. It appeared the two sides were close to a settlement. But things went awry.
Manufacturing already has felt the impact of trade fights started by the Trump administration. This has been a recurring theme of the monthly reports from the Institute of Supply Management. ISM reports a manufacturing index, based on a monthly survey of purchasing executives.
The U.S. and China had cooled off the trade fight while the two sides negotiated. But that crashed and burned last week.
So now, the U.S. has said it’s boosting tariffs on billions of Chinese goods and is moving to raise tariffs on billions more.
The administration is peddling a story line about how… (read more on advancedmanufacturing.org)