Manufacturers brace for export decline amid US tariffs

The U.S. manufacturing sector is facing contraction as recent tariffs imposed by President Trump create uncertainty and dampen demand. The Institute for Supply Management's March report indicated a decline in manufacturing activity, with the Purchasing Managers Index (PMI) dropping to 49, signaling a retreat after two months of growth. Similar trends were observed globally, with manufacturers in countries such as Britain and Japan also reporting reduced activity due to tariff-related anxieties. Industry leaders are concerned that the higher tariffs on Taiwanese goods, which are set at 32%, will significantly impact Taiwan's machinery exports, the largest market for its products. These developments have fueled fears of economic slowdown and prompted businesses to scale back hiring and investment decisions. Overall, the combination of rising tariffs and trade tensions is creating a challenging environment for manufacturers worldwide.