U.S. manufacturing contracted for a third straight month in May and suppliers took the longest time in nearly three years to deliver inputs amid tariffs, potentially signaling looming shortages of some goods.
President Donald Trump’s aggressive trade policy again dominated commentary from manufacturers in the Institute for Supply Management (ISM) survey published on Monday, and suppliers were passing on the import duties to customers. That challenges the Trump administration’s narrative that China and other trade partners paid the tariffs.
The on-again and of-again tariffs were described by some transportation equipment manufacturers…