"We're moving in the wrong direction": Tariffs increase costs and negatively impact production, according to PMI.

Tariffs are raising manufacturing costs, leading to lower demand and production, as indicated by the Institute for Supply Management's April Purchasing Managers’ Index (PMI), which fell to 48.7%. This decline reflects industry uncertainty regarding tariff policies, with 82% of survey respondents expressing tariff-related concerns. Production dropped significantly, alongside export orders, which decreased to 43.1%. Experts warn of worsening conditions, with potential supply chain disruptions and slower customs processes. The overall economic outlook remains precarious as manufacturers await more stable trade policies.