BUSINESS/CHINA/TRADE WAR/TRUMP AS PRESIDENT: “American manufacturing activity contracted last month more than it had in a decade, data released Friday [1-3-20] showed, a sign that economic damage from President Trump’s trade war could linger even after the United States and China sign an initial trade deal. An index published by the Institute for Supply Management dropped to 47.2 in December, the lowest reading since June 2009 and the fifth straight month of contraction. A reading below 50 indicates the manufacturing sector is contracting. The lackluster manufacturing data came amid growing concerns that Mr. Trump’s recent truce with China may only partly relieve economic damage from a prolonged trade war. Mr. Trump said Tuesday that the United States and China would sign an initial trade deal at the White House on Jan. 15, and that talks for a second-phase deal would begin ‘at a later date.’”
–Ana Swanson and Jeanna Smialek, “U.S. Manufacturing Slumps as Trade War Damage Lingers,” The New York Times online, January 3, 2020