US manufacturing contracts for the first time in three years amid China trade war

``A gauge of U.S. manufacturing from the Institute for Supply Management showed the sector contracted in August, its first decline since 2016... The escalated trade war with China is taking a significant bite from the manufacturing sector, which for a time was considered one of the big winners under the Trump administration, notching big gains in employment and activity. But that has now appeared to be nullified by the trade war.''