Trump's EU trade war costing manufacturers in US and eurozone

Tariffs are slowing productivity and driving up costs, new figures show

Donald Trump's trade tariffs are driving up costs for US manufacturers and exacerbating a slowdown for eurozone factories, new figures showed on Monday, as the EU and the US edge closer towards a full-scale trade war with potentially damaging consequences for the global economy.

According to the latest survey of American factories by IHS Markit - closely watched for any early warning signals for the world's largest economy - the president's tariffs added to the cost of raw materials and components in June. It also contributed to the lengthiest delays for supplies reaching factory production lines since the poll was started in 2007.

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