The survey indicates that most Americans do not believe they’re personally benefiting from his trade policies. Only 17% say they received a tax cut after the president’s tax overhaul passed in 2017.
Those doubts create a possible vulnerability as Trump highlights the strong economy in his campaign for re-election.
US manufacturing growth slows in June
WASHINGTON (AP) — U.S. factory activity grew at a slower pace in June for the third straight month as measures of new orders and inventories fell.
The Institute for Supply Management, an association of purchasing managers, says that its manufacturing index slipped to 51.7 last month from 52.1 in May. Any reading above 50 signals an expansion.
The report mostly pointed to an ongoing weakening in U.S. manufacturing. Trade fights with China, Europe and Mexico, as well as an increase in the dollar’s value, have cut into U.S. exports and increased uncertainty for American manufacturers. Export orders are also nearly flat.
A measure of new orders dropped to 50, which means orders were unchanged. Manufacturers are also holding fewer supplies, a sign they are worried that demand could slow further.
US construction spending falls 0.8% in May
WASHINGTON (AP) — Spending on U.S. construction projects fell in May, the first drop in six months, as home building fell for a fifth straight month.
The Commerce Department says spending fell 0.8% in May, the first decline since a 1.3% drop in November, to a seasonally adjusted annual rate of $1.29 trillion. Spending In April was revised up from a flat reading to a small gain of 0.4%.
The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a by decline in construction spending by the federal government.
Spending on residential construction has been weak for a number of months but builders are hopeful that declining mortgage rates will spur a rebound.
Japan resumes commercial whaling despite low demand
TOKYO (AP) — Japanese whalers returned to port today with their first catch after resuming commercial whaling for the first time in 31 years.
A fleet of five boats left the northern Japanese port of Kushiro earlier in the day and brought back two minke (MIHN’-kee) whales.
It was the first commercial hunt since 1988, when Japan switched to what it called research whaling after commercial whaling was banned by the International Whaling Commission. Japan gave six months’ notice that it was withdrawing from the IWC, a move that took effect Sunday.
The Fisheries Agency says the hunts will stay within the country’s exclusive economic zone, and the catch quota for the rest of this year will be 227 whales, fewer than the 637 that Japan hunted in the Antarctic and the northwestern Pacific in its research program in recent years.
Dubai’s DP World acquires oil shipping firm Topaz for $1.1B
DUBAI, United Arab Emirates (AP) — International port operator DP World has acquired a major oil and gas marine logistics provider for nearly $1.1 billion.
Dubai-based DP World says that it has acquired 100% of Topaz from the Oman-listed Renaissance Services, furthering the port operator’s expansion in the global logistics and marine services industry.
Topaz operates 117 vessels in the Caspian Sea, Middle East and West Africa and works with major oil firms like BP, Chevron, ExxonMobil and Dubai Petroleum.
DP World CEO Sultan Ahmed bin Sulayem says the acquisition strengthens the company’s operations in maritime logistics, where its subsidiary P&O Maritime maintains over 300 vessels.
DP World says the deal opens the door for new business opportunities, including increasing transit volumes through Azerbaijan and energy-rich corridors around the Caspian Sea.
^KIM KARDASHIAN WEST-KIMONO-BACKLASH
Kim Kardashian West finds solution to Kimono backlash
NEW YORK (AP) — Social media has spoken, and Kim Kardashian West has listened.
The reality TV star and makeup mogul has decided to change the name of her Kimono Solutionwear.
The move comes less than a week after backlash from social media users who objected to what they said was appropriation of the traditional Japanese kimono in the name of her upcoming shapewear line.
West tweeted Monday that her “brands and products are built with inclusivity and diversity at their core.”