Trump tried to rescue US manufacturing, agriculture, but they're worse now - Business Insider

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Trump appeared ready to scale back his ongoing trade wars recently, but those expectations were shattered when the president announced he was imposing tariffs on steel and aluminum from Brazil and Argentina on Monday. Throughout his presidency, Trump has sought to rescue segments of the economy he believed were abandoned by lawmakers at home and battered by competitors abroad. He particularly wanted to prop up US manufacturing and farming — both symbolic of an era when they formed dominant parts of the 20th century economic engine.

But those expectations were shattered when the president announced he was imposing tariffs on steel and aluminum from Brazil and Argentina on Monday, dragging two of the largest South American economies into the dispute. "He gave corporations a massive tax cut that was supposed to produce surging investment — but business investment is down," Krugman said in a tweet. "He launched a trade war to make manufacturing great again, but industry is shrinking."

The ISM Manufacturing reading, an important index, showed a continuing decline in the demand for new orders and inventories when"All this trade friction is weighing on the manufacturing sector, reminding us that protectionism is not a victimless crime," Kristina Hooper, chief global market strategist at Invesco,Alden said the sector weathered a particularly strong hit from the tariffs.

The democrats are cutting his trade throat, our trade throat, my throat, and your trade throat. Everyone should have stood together on this most important issue.

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