"Orders for US manufactured goods dropped by 3.7 percent on a monthly basis in April, worse than economists had expected, highlighting the impact of tariffs."
"Manufacturing has been under pressure from President Trump's aggressive tariffs, which are seen as a tool to raise revenue and revive a declining industrial base."
"Economists deemed it impossible to revitalize the industrial base in the short term due to existing labour shortages and structural issues."
"While transportation-related orders plunged 17.1 percent in April, there were notable increases in manufacturing for computers and machinery."
In April, new orders for US manufactured goods fell by 3.7%, contrary to economists' predictions of a lesser decline, signalling the adverse effects of tariffs. March witnessed a rise of 3.4%, fueled by pre-purchases driven by tariff fears. Transportation orders led the drop, particularly in commercial aircraft, which saw a stunning 51.5% decrease. Despite overall declines, some sectors, like electronic products, showed growth. The broader context reflects the challenges facing manufacturing, exacerbated by Trump's tariff policies perceived as short-term fixes to deeper issues such as labor shortages.
Read at www.aljazeera.com
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