Trump's tariffs loom over the economy as shipments from China fall

In the next few weeks, Levine said, “you could start seeing shortages ... it’s likely to be concentrated in categories where the U.S. is heavily dependent on Chinese manufacturing and there aren’t a lot of alternatives and certainly quick alternatives.’’ Among them: furniture, baby products and plastic goods, including toys. The Conference Board, a business group, reported Tuesday that Americans’ confidence in the economy fell for the fifth straight month to the lowest level since the onset of the COVID-19 pandemic. Nearly one-third of consumers expect hiring to slow in the coming months, nearly matching the level reached in April 2009, when the economy was mired in the Great Recession.

Author: Paul Wiseman

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