Asian factories lose their momentum

Lower exports: A file picture shows workers moving containers at a port in Qingdao in eastern China’s Shandong province. Shipments from China and Japan, which are major manufacturing hubs, contracted in June. — AP

HONG KONG: Asian exporters lost momentum last month even before tariffs on US and Chinese goods kick in this week, pressuring regional factory activity in a worrying sign the Trump administration’s “America First” protectionist policies could derail global growth.

Shipments from China and Japan, major manufacturing hubs, contracted in June, while businesses across Asia also took on higher input costs as the price of oil and other commodities rose, according to monthly manufacturing surveys.