Global Output Slumps Under Weight of Tariffs Fresh data out of Europe confirms what free market economists have long warned: universal tariffs may sound like tough policy, but in reality, they’re economic shackles. Private sector output fell in both Germany and the United Kingdom this month, according to the latest Purchasing Managers’ Index (PMI) surveys. The culprit? A mix of waning business confidence and the ripple effects of Washington's trade interventionism. In Germany—the powerhouse of Europe’s economy—the PMI dropped below the neutral 50 mark, sliding to 49.7 from March’s 51.3. A reading under 50 signals contraction. Across the channel, the UK’s private sector shrank even more sharply, with a PMI of 48.2, the lowest in over two years. Survey respondents…
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