Trade Blamed as Manufacturers Plan 2020 Spending Cuts, Fed Says
A works welds a beed onto the nose of a pontoon at a production facility in Elkhart, Indiana.
Photographer: Ty Wright/BloombergThis article is for subscribers only.
One in six companies in the Philadelphia region plans to reduce capital spending next year because of President Donald Trump’s trade policies, a Federal Reserve survey showed Thursday.
The results showed 17.5% of respondents blamed their planned investment cuts next year on tariffs and other trade policies, 54.4% said they expect no change in spending and 14.1% said they’ll increase it as a result. The breakdown came in response to a special question as part of the Philadelphia Fed’s monthly questionnaire of manufacturers in the bank’s district.