Jul 24, 2019
In the U.S., China’s economic slowdown starts to bite
Caterpillar has lowered expectations for the year, blaming tariffs and China’s economic slowdown.
A worker looks on as a cargo ship is loaded at a port in Qingdao, eastern China's Shandong province in 2017.
STR/AFP/Getty Images
Caterpillar has dumped some bad news on investors: Tariffs and an economic slowdown in China dragged down earnings. The company also lowered expectations for the year. American manufacturers that produce in the United States and sell to China — and those that produce in China to sell there — will be hurt by China’s slowdown. That pain could, in turn, spread to more sectors of the U.S. economy.
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