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  4. Data shows Trump's trade war is hurting US manufacturers. Here's what 4 companies had to say about the negative impact.

Data shows Trump's trade war is hurting US manufacturers. Here's what 4 companies had to say about the negative impact.

Honeywell International

Data shows Trump's trade war is hurting US manufacturers. Here's what 4 companies had to say about the negative impact.

Dow Inc.

Dow Inc.

Last week, Dow posted second-quarter revenue of $11 billion, representing a 14% drop from the same period last year. The company said it expects to see trade and geopolitical uncertainties affect the buying patterns of its customers.

"The macro environment is cautious largely driven by geopolitical volatility and prolonged trade negotiations which continue today," James Fitterling, the chief executive officer of Dow Inc. said during an earnings call. "We still see the global economy expanding, but the pace of growth is slower particularly in Europe and in China."

3M

3M

3M, which manufacturers and supplies products for a wide variety of industries, saw its growth in China fall by 0.80% in the second quarter. Growing sales in 3M's health care, transportation, and electronics segments were offset by declines in demand for industrial, safety, and consumer products.

"For the year, we now expect organic growth in China to be down low to mid-single digits versus a prior expectation of flat as we continue to experience challenging end market conditions, particularly in the electronics and automotive industries," Nicholas C. Gangestad, the senior vice president and chief financial officer said.

Caterpillar

Caterpillar

Caterpillar's second-quarter earnings signaled slowing growth in China amid the trade war as consolidated sales and revenue fell 7% in the Asia Pacific region from the same period last year. The company also saw manufacturing costs increase $328 million, with tariffs accounting for $70 million of the additional expenses.

"We expect continued pressure from competitive pricing in China, partly offset by growth in other areas in Asia Pacific," D. James Umpleby, the chief executive officer said during the company's earnings call.


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