Click the following link to watch video: Source: Reuters InsiderDescription: Manufacturing activity took a hit from weak orders in August,surveys showed, a sign firms are feeling the pinch from an intensifying tradewar between the United States and China that could derail global growth. SoniaLegg reportsShort Link: Video Transcript:August may have been holiday time for many, but it wasn't the reasonmanufacturing activity took a rest. Surveys of purchasing managers showedfirms are feeling the pinch globally, from an intensifying trade war. China'svast sector saw the slowest growth in more than a year with a PMI of just50.6. Anything below 50 is considered a contraction. Export orders also shrankfor a fifth month.Well, I think it's hard to read exactly into itwhat is really coming through from trade wars and what is probably more of areflection of the ongoing rebalancing of the Chinese economy that a job thatthey're probably doing actually fast and quite well, while under significantpressure both internally and externally.Export orders were alsolower in Japan and South Korea, suggesting a sneeze in China quickly becomes acold in other export-reliant Asian economies. There were signs of that fromEurope's biggest export too. German industrial orders for July are predictedto show only a small rise, after a big fall in June.Half of thebattle is confidence. And at the moment, the outlook is much bleaker than ithas been, mainly because of this concern that trade wars could extend furtherinto this year, and possibly into 2019. But I think it's more of a midtermgambit from the President. We might see the subject disappear off our screensonce the midterm elections are out of the way.Britain's factoriesalso have Brexit to deal with. The double whammy meant manufacturers there hadtheir weakest month in over two years. Export orders also suffered a raredecline. Even India's manufacturing sector unexpectedly slowed in August,suggesting no one is immune to the impact of President Trump's relentless"American First" trade push. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.