The J.P. Morgan Global Manufacturing PMI expanded in July for the first time since January, buoyed by recoveries in demand and production. Output grew at the fastest pace since December 2018 as the sector continues to bounce back from COVID-19 and the severe worldwide recession. Manufacturers expressed cautious optimism about future production. Manufacturers continue to advance efforts with the administration and Congress to open markets, ensure trade certainty and address challenges overseas. Their measures include the following:
- Monitoring rising tensions in the U.S.–China security, trade and economic relationship
- Elevating manufacturers’ fight against fake and counterfeit goods
- Leading industry advocacy in support of a congressional passage of a comprehensive Miscellaneous Tariff Bill
- Characterizing the Trump administration’s decision to reimpose aluminum tariffs from Canada as a step backward for the United States–Mexico–Canada Agreement
Submitting comments to the Trump administration on a series of trade enforcement investigations, including the U.S.–EU large civil aircraft dispute, digital services taxes and imports of vanadium.