U.S. engine maker Cummins on Wednesday reported lower-than-expected quarterly profit and forecast full-year sales below analysts' estimates, Reuters reports.
The state of play: The news plays out almost exactly as CEO Tom Linebarger warned in a July New York Times op-ed. "These tariffs put us in a worse position now than when we started these negotiations, and we are concerned there is no end in sight," he wrote. "Because of this uncertainty, companies like ours are standing still, unclear on how and where to invest."