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US Firms Say Uncertainty Over Trump's Tariffs Are Damaging Production
The Guardian
|June 03, 2025
US manufacturers said yesterday that Donald Trump's trade war was hitting production, pushing the dollar close to a three-year low against sterling.
The greenback suffered a fresh sell-off after the closely watched Institute for Supply Management (ISM) survey of the manufacturing sector signaled a third monthly decline in output.
The ISM purchasing managers' index fell to 48.5% in May - below the 50 level that signals contraction.
Comments from participants in the monthly poll underlined the damage being caused by the president's on-off tariff policies.
"Uncertainty due to the recent tariffs continues to weigh on profitability and service. An unresolved [trade deal with] China will result in empty shelves at retail for many do-it-yourself and professional goods," a paper producer warned.
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