Entrepreneurs in the United States are concerned about the trade war that President Donald Trump is waging with China. The many trade rates cause a lot of uncertainty. Manufacturers indicate, for example, that they must pass on the costs of import duties to consumers.
The Federal Reserve reported this in its Beige Book, which provides insight into economic activity in the US. The labor market was also an important theme in this. In some parts of the US, companies are struggling to find staff lately. For this reason, several restaurants in a South Carolina city have recently had to close their doors.
Despite these comments, the big economic picture still seems positive. The umbrella of central banks speaks in the report of a “modest” pace of growth of the economy and positive prospects. This indicates a slight improvement compared to the situation with the previous Beige Book.