Trade wars may be dampening business investment

The Trump administration’s trade conflicts with other companies may be keeping businesses from investing as they try to wait out the storm. Durable goods orders fell by more than expected in October, the Department of Commerce reported Wednesday.

“October orders for business equipment suggest the trade wars or stock market turmoil is dampening the confidence of companies, and business investment will not be a significant driver of GDP growth in the fourth quarter,” said Chris Rupkey, chief financial economist for MUFG, global financial group, on Wednesday. “If the president is thinking of cutting a deal with China at G20 in Buenos Aires, now would be the time.”