Economic data show that Pres. Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports. The tariffs did succeed in reducing the trade deficit with China in 2019, but the overall U.S. trade imbalance has continued climbing, soaring to a record $84 billion in August as U.S. importers shifted to cheaper sources of goods from Vietnam, Mexico and other countries.
BP has begun to evacuate four offshore Gulf oil platforms and secure facilities as Tropical Storm Zeta makes its way toward the U.S. Zeta strengthened yesterday and is forecast to become a hurricane before it nears Mexico’s Yucatan Peninsula late today.
Dunkin’ Donuts owner Dunkin’ Brands Group has held talks to be acquired by Inspire Brands, a private equity-backed restaurant company. Inspire Brands is the owner of Arby’s and Jimmy John’s.
