Protectionism starts weighing on global economy, Bloomberg informs.

Last signs of this influence already appeared in recent reports on companies’ activities in Japan, Europe of US. Many manufacturers faced higher costs for raw materials, others with pressure on earnings.

On Tuesday Harley-Davidson Inc. lowered its profit forecasts mentioning tariffs as a reason. Motorcycles producer got in the center of trade war, when last month it announced intentions to move some production from the US abroad to avoid duties.

Electronics firm Royal Philips NV informed that recent measures make it raise prices for consumers, while Whirlpool Corp. said that increase in material costs hurt results on some markets in second quarter.

As of global economy, the signs of ending for the period of synchronized growth are obvious. While US is using its benefit of tax cut reform, growth slows in China, a whole range of emerging markets observes currency selloff. Europe is very slowly recovering after bad winter period.

According to monthly IHS Markit, economy growth in eurozone in July slowdown among reduction in new orders and economic confidence. In the UK, where Brexit is added to other problems, expectations in regards to manufacturing orders as well as investment plans fell. PMI index for services in euro area declined to 54,3 from 54,9 in June. This is the bigger reduction than was expected.

In China concerns grew so big that government decided to implement measures to stimulate domestic demand.