In the U.S., China’s economic slowdown starts to bite
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Caterpillar has dumped some bad news on investors: Tariffs and an economic slowdown in China dragged down earnings. The company also lowered expectations for the year. American manufacturers that produce in the United States and sell to China — and those that produce in China to sell there — will be hurt by China’s slowdown. That pain could, in turn, spread to more sectors of the U.S. economy.
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