CHINA/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “President Trump said on Tuesday [9-2-19] that Chinese manufacturing would ‘crumble’ if the country did not agree to the United States’ trade terms, as newly released data showed his trade war was washing back to American shores and hurting the factories that the president has aimed to protect. Days after new tariffs went into effect on both sides of the Pacific, a closely watched index of American manufacturing activity fell to 49.1 from 51.2, signaling a contraction in United States factory activity for the first time since 2016. The companies responding to the Institute for Supply Management survey, which the index is based on, cited shrinking export orders as a result of the trade dispute, as well as the challenge of moving supply chains out of China to avoid the tariffs. The manufacturing sector’s struggles are likely to increase as the world’s two largest economies continue to escalate their trade fight.”
–Ana Swanson, “Trump Says China Will Suffer as Data Shows Trade War Hurting U.S.,” The New York Times online, September 3, 2019