Tariffs hurting, not helping the US
By Li Xiang | China Daily | Updated: 2019-09-06 07:58
The escalating tariffs on Chinese imports by the United States which were supposed to help revive the US manufacturing sector appear to be having the opposite effect.
US factory activity contracted for the first time in three years as the Institute for Supply Management's purchasing managers index - a closely watched gauge of the US manufacturing sector - fell unexpectedly in August to 49.1 from July's 51.2.
The ISM measure of new orders for manufactured goods also declined to 47.2 while the production gauge sank to 49.5.
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