Atlantic writer Derek Thompson says:
We really did it. We took a growing US manufacturing economy, declared it broken, started a trade war, and … broke US manufacturing. In last 48 hours:
– Philly Fed Survey: “New orders fell sharply, from 8.7 in March to -34.2, its lowest reading since April 2020” – NY Fed Survey: Expected orders and shipments plunging Again, this is a policy to revive US manufacturing.
Thompson said that he got blowback because he’s just a journalist and doesn’t know what he’s talking about. So he talked to someone who does:
I talked to @Molson_Hart, a manufacturing CEO, about how the tariffs are affecting his business. He told me America could be sleepwalking into a small business apocalypse:
It’s just a little disturbance. Nothing to see here.