someoneyouknow
Literotica Guru
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- Jun 5, 2006
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"The proposed Tranche 4 tariffs will risk our company's overall financial health, which will in turn limit our ability to maintain and reinvest in our American factories," said a letter submitted by New Balance to the US Trade Representative's Office ahead of a hearing next week.
Thus spoke New Balance, a sneaker company which makes its products in the U.S. (unlike the con artist who refuses to have his name brand clothes made in the U.S.). Thanks to the con artist's tariffs, the company expansion is at a near standstill and the components it needs to make its sneakers are being subjected to a massive tariff (i.e. tax increase).
Until now, New Balance has focused on fighting efforts to open up trade. The company fought the Trans-Pacific Partnership trade agreement, which would have phased out tariffs on shoes coming from Vietnam.
Shortly after Trump was elected, the company's vice president of public affairs, Matt LeBretton, said that "things are going to move in the right direction" with Trump as president, adding that the Obama administration had "turned a deaf ear" to New Balance in regards to the Trans-Pacific Partnership.
Footwear groups say that new tariffs won't bring back the suppliers of uppers (the part around your foot), soles or inserts. The US footwear industry produces just 25 million pairs of shoes a year, while importing 2.5 billion, despite existing tariffs on foreign-made shoes and materials.
Another satisfied customer for the con artist. However, in addition to New Balance's whining after they got what they asked for, 300 other company executives are expected to testify in the upcoming week about the damage the con artist tariffs are doing to them and their customers. Across the board, companies are having to either absorb the increased costs associated with tariffs, which reduces their profit margins, or pass on those increasing costs to consumers who haven't received a pay raise (adjusted for inflation) in the past 30 years.
https://www.cnn.com/2019/06/16/economy/new-balance-china-tariffs/index.html
Thus spoke New Balance, a sneaker company which makes its products in the U.S. (unlike the con artist who refuses to have his name brand clothes made in the U.S.). Thanks to the con artist's tariffs, the company expansion is at a near standstill and the components it needs to make its sneakers are being subjected to a massive tariff (i.e. tax increase).
Until now, New Balance has focused on fighting efforts to open up trade. The company fought the Trans-Pacific Partnership trade agreement, which would have phased out tariffs on shoes coming from Vietnam.
Shortly after Trump was elected, the company's vice president of public affairs, Matt LeBretton, said that "things are going to move in the right direction" with Trump as president, adding that the Obama administration had "turned a deaf ear" to New Balance in regards to the Trans-Pacific Partnership.
Footwear groups say that new tariffs won't bring back the suppliers of uppers (the part around your foot), soles or inserts. The US footwear industry produces just 25 million pairs of shoes a year, while importing 2.5 billion, despite existing tariffs on foreign-made shoes and materials.
"It will not happen. We've had high duty rates for 90 years and production still left," said Matt Priest, president and CEO of the Footwear Distributors and Retailers of America, which has opposed Trump's tariffs.
Another satisfied customer for the con artist. However, in addition to New Balance's whining after they got what they asked for, 300 other company executives are expected to testify in the upcoming week about the damage the con artist tariffs are doing to them and their customers. Across the board, companies are having to either absorb the increased costs associated with tariffs, which reduces their profit margins, or pass on those increasing costs to consumers who haven't received a pay raise (adjusted for inflation) in the past 30 years.
https://www.cnn.com/2019/06/16/economy/new-balance-china-tariffs/index.html
