Evidence shows that Donald Trump's trade war is severely affecting global manufacturing, particularly as China's manufacturing activity in May experienced its sharpest contraction in two and a half years, driven by reduced orders and export demand. The Caixin/S&P manufacturing index fell to 48.3, signaling ongoing economic challenges amidst tit-for-tat tariffs. This turmoil is contributing to increased concerns over economic stability, with US manufacturers reporting lower production and raising prices due to tariffs, resulting in a decline of the US dollar's value.
The US dollar has plummeted close to a three-year low against other currencies, showcasing the tangible impacts of tariffs on economic sentiments.
As the trade war escalates, manufacturing in China and the US is feeling a significant pinch, indicating a worrying trend for global economic growth.
Collection
[
|
...
]