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Manufacturing is now officially in recession, despite Trump's vow to boost industry
During President Trump’s first two years in office, his standing with many voters was buoyed by a surge in manufacturing that helped create millions of jobs and undergirded the whole U.S. economy.
But today, manufacturing has plunged into recession and is threatening to pull down other sectors, perhaps hitting hardest on supporters in those states that helped put Trump in office.
Impeachment may be dominating the news, but the less-noticed industrial slump ultimately could pose a greater threat to Trump’s reelection.......
Instead of healthy job growth, layoff announcements have surged this year, especially in battleground states such as Pennsylvania and Michigan. Friday’s jobs report for September showed a slight drop in total factory jobs......
Some of those same factors are again weighing against American industry. But analysts and business leaders say the single biggest restraint on manufacturing this year has been of Trump’s own making: excessive use of tariffs and his trade wars with China and other countries....
The trade wars have not just hurt farmers.But today, manufacturing has plunged into recession and is threatening to pull down other sectors, perhaps hitting hardest on supporters in those states that helped put Trump in office.
Impeachment may be dominating the news, but the less-noticed industrial slump ultimately could pose a greater threat to Trump’s reelection.......
Instead of healthy job growth, layoff announcements have surged this year, especially in battleground states such as Pennsylvania and Michigan. Friday’s jobs report for September showed a slight drop in total factory jobs......
Some of those same factors are again weighing against American industry. But analysts and business leaders say the single biggest restraint on manufacturing this year has been of Trump’s own making: excessive use of tariffs and his trade wars with China and other countries....