Bloomberg
Published Oct 23, 2019 07:00AM ET
Updated Oct 23, 2019 08:49AM ET
From Harleys to Hasbro, the Trade War Headaches Intensify
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Some of the most prominent engines of the global economy are showing signs of trade war fatigue. The next big concern is that the drivers will grow weary, too.
Just ask those at ground zero of U.S. trade with China.
“Clearly for the last year there certainly has been indecision, uncertainty in the industry,” Mario Cordero, executive director at the Port of Long Beach in California, said in an interview with Bloomberg Television. “You’re now seeing actually the impact.”
The latest examples:
“Going forward, it’s going to be the impact on the American consumer, because again, consumption is what drives our GDP,” said Cordero, who oversees one of the busiest ports in the U.S. “If that’s impacted, then of course we are going to see an impact on the economy.”
Charting the Trade War
Brent crude has fallen by a fifth since April. Bloomberg Economics estimates that weak demand — linked to the impact of the trade war — accounts for 70% of the decline.
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Written By: Bloomberg
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