CHINA/EU/GERMANY/TRADE WAR/TRUMP AS PRESIDENT: “German industrial orders fell unexpectedly in July on weak foreign demand, data showed on Thursday [9-6-18], in a further sign that factories in Europe’s largest economy are feeling the bite of U.S. President Donald Trump’s protectionist trade policies. The Federal Statistics Office said contracts for ‘Made in Germany’ goods were down by 0.9 percent after a revised plunge of 3.9 percent in the previous month. The reading undershot a Reuters poll of analysts who had predicted a rise of 1.8 percent. The Ifo economic institute said, however, that Germany’s economic upswing will continue as a strong domestic economy is providing a buffer against external shocks…Trump has triggered trade disputes with China, Europe and many others regions by imposing steep tariffs on a broad range of products in his pledge to protect American jobs against what he calls unfair trade practices. Global markets are on edge after Trump threatened fresh tariffs on another $200 billion in Chinese imports and China’s commerce ministry said it would be forced to retaliate. Industrial orders from abroad dropped by 3.4 percent in July, with demand from clients outside the euro zone plunging the most, the data showed. Domestic orders rose by 2.4 percent.”
–Michael Nienaber, “Trump trade threats bite into German factory orders,” Reuters, September 6, 2018 2:06 am