New Balance Joins In Anti Trump Tariff Policy

Following the joint presentation of 173 sports brands such as Nike and Adi, another sports brand joined the anti Trump tariff. Local time on June 16th, according to CNN reports, New Balance also joined the ranks of the protesters. They were supporters of Trump's tariff policy, and now stand up against Trump's more tariffs on China.

According to CNN, Goleman Balance, vice president of global affairs at New Balance, recently sent a letter to the US trade representative office: "the proposed fourth round of tariffs will endanger our company's overall financial health, thereby limiting our ability to maintain production and re investment in the US factories." Goleman also said in the letter: "punitive tariffs on shoes and socks imported from China will not promote these important goals, and will only threaten our ability to continue manufacturing and investing in the shoe and socks factories in the United States".

New Balance has claimed that it is the only company that can produce about 4000000 pairs of sneakers in the United States a year. The company currently has 5 plants in the new England region, and is expected to open new plants next year. But the problem is that companies need to import parts from the US, such as upper, sole and insole, from China.

CNN commented that New Balance2016 also expressed support for Trump's tough tariff policy and declared that "things are moving in the right direction". Now it stands up against it. This is just an example of the fact that American companies are now laying the supply chain globally. Under such circumstances, Trump's protectionist trade policy can not bring manufacturing back to the United States. It is too difficult and impossible to achieve the tariff policy they claim to be "just hitting China, not hurting the interests of American enterprises, workers and consumers".

On June 17th, the US trade representative's office will hold a public hearing to discuss whether it will impose tariffs on Chinese products valued at about $300 billion. Author: Xin Xiaotong