New Balance Joins The Ranks Against Trump'S Tariff Policy

Following 173 sports such as Nike and Adidas brand After the joint declaration, another sports brand joined the ranks of anti Trump tariffs. On June 16 local time, CNN reported that New Balance also joined the ranks of opponents. Previously, they were supporters of Trump's tariff policy, but now they have come out in public to oppose Trump's imposition of more tariffs on China.

According to CNN, Monica Gorman, the vice president of New Balance in charge of global affairs, recently wrote to the U.S. Trade Representative Office: "The proposed fourth round of tariffs will endanger the overall financial health of our company, thus limiting our ability to maintain production and reinvestment in our factories in the United States." Gorman also said in the letter: "Imposing punitive tariffs on footwear components imported from China will not promote these important goals, but will only threaten our ability to continue manufacturing and investing in footwear factories in the United States.".

New Balance once claimed that it is the only company that can produce more than 4 million pairs in the United States a year gym shoes Of the company. The company currently has five factories in New England, the United States, and is expected to open new factories next year. But the problem is that the company needs to import from China parts that are no longer produced in the United States, such as uppers sole and Insole 。

CNN commented that New Balance also expressed support for Trump's tough tariff policy in 2016, claiming that "things are going in the right direction", but now it has come out against it, which is just an example that American enterprises have now deployed their supply chains around the world. In this case, Trump's protectionist trade policy cannot bring manufacturing back to the United States. It is too difficult and almost impossible to achieve the tariff policy they claim that can "only attack China without harming the interests of American enterprises, workers and consumers".

On June 17 local time, the United States Trade Representative Office will hold a public hearing to discuss whether to impose tariffs on Chinese products worth about 300 billion dollars.