Tariffs Storm Clouds Over US Manufacturing Sector
US manufacturing was steady in February but a measure of prices at the factory gate jumped to nearly a three-year high, suggesting that tariffs on imports could soon undercut production. The Institute for Supply Management (ISM) survey showed a slip in its manufacturing PMI to 50.3, indicating growth in the sector, but also highlighted concerns about the impact of tariffs and supply chain issues. A surge in goods trade deficit and decline in homebuilding in January reinforced views that the economy lost significant momentum early in the first quarter.
- The tariffs storm brewing over US manufacturers could be a harbinger for a broader economic slowdown, as industries already grappling with supply chain disruptions and price increases dig deeper into their financial reserves.
- How will the US government's latest trade policies impact the nation's ability to maintain its current level of manufacturing output and competitiveness in the global market?