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U.S. companies showed widespread concerns about tariff and trade policy uncertainty, but held a generally positive outlook, according to a regional survey from the Federal Reserve.

The anxiety about protectionism was broad geographically and across industries as pricing difficulties, labor shortages and supply-chain disruptions were cited in the Fed’s so-called Beige Book, released on Wednesday. The ability to pass along higher costs was mixed and capital spending plans are being delayed, it showed.

Here are some other highlights:

  • In the Fed’s Boston district, a firm noted that it had to move an assembly line from the U.S. to Germany to avoid the tariffs on the Chinese made component in the product line.
  • A North Carolina furniture manufacturer was unable to pass tariff-related cost increases on to customers.
  • A West Virginia rubber maker attributed a drop in business from Chinese customers to the trade wars.
  • Businesses in Philadelphia said trade uncertainty delayed investments.
  • On the West Coast, “demand for lumber from major trading partners like China continued to run soft due to trade tensions.”
  • Chinese tariffs on U.S. liquefied natural gas exports created uncertainty among global firms pursuing new processing plants or expansions in the U.S.
  • Despite widespread concerns about the possible negative impact of trade-related uncertainty, the “outlook generally was positive for the coming months.”

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net

To contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Catherine Bosley

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