Economists and logistics firms are raising alarms about the effects of Donald Trump's trade war on the US economy, highlighting a notable plummet in trade with China. Following the tariffs, businesses have reported decreasing new orders, lowered capital expenditure plans, and increasing inventories, while consumer confidence hits record lows, dampening spending. The trade war is expected to lead to significant industry layoffs, mainly in trucking and retail, raising concerns over a 'Voluntary Trade Reset Recession.'
"A trade war is a stagflation shock, Slk fears. He explains that it typically takes between 20 and 40 days for a sea container to travel from China to the US."
"Torsten Slk, chief executive at asset manager Apollo Global Management, explains: For companies, new orders are falling, capex plans are declining, inventories were rising before tariffs took effect."
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