US manufacturers have raised alarms about the impact of Donald Trump's trade war on production levels, as evidenced by a recent ISM survey indicating a contraction in manufacturing output. The purchasing managers' index fell to 48.5%, marking a third consecutive month of decline. This downturn has pressured the dollar, bringing it close to a three-year low against the pound. Manufacturers face heightened uncertainty due to fluctuating tariffs, with suppliers passing full tariff costs onto them, leading to fears of retail shortages and broader economic repercussions.
US manufacturers indicate Trump's trade war is significantly impacting production, contributing to a decline in the dollar's value and future market uncertainty.
The latest ISM manufacturing survey noted a continued contraction, with the index falling to 48.5% in May, signaling symptoms of broader economic distress.
A chemicals producer mentioned that tariffs are fully passed onto them, reflecting the struggle of US companies to manage the fluctuating trade policies affecting profitability.
Amidst escalating tariffs, uncertainty looms large, with many fearing empty retail shelves due to unresolved trade negotiations with China and Trump’s unpredictable tariff policies.
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