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New tariffs will result in price rise: Columbia Sportswear

02
Aug '19
Pic: Shutterstock
Pic: Shutterstock
The proposed 10 per cent tariff on $300 billion worth Chinese imports that are not yet subject to US duties, if imposed, will force Columbia Sportswear Company – along with many other manufacturers in our industry – to raise prices on its products. As such it will be a massive tax on employers and consumers, and not on China, the American company has said.
 
“President Trump has announced via Twitter that he plans to raise tariffs on imported goods from China beginning September 1, 2019. If that happens, it will be a disaster for the American economy, employers and consumers," Columbia Sportswear president and CEO Tim Boyle said in a statement.
 
“Footwear and apparel are some of the most highly taxed products in the United States. Herbert Hoover-era tariffs as high as 37.5 per cent are already in place and are being paid by US consumers. With President Trump’s proposed 10 per cent tax on goods manufactured in China, the American people will see almost half the cost of their shoes and clothing go to taxes.
 
“Furthermore, raising tariffs creates uncertainty, which makes it difficult for American business to make investments that can continue to grow the US economy. We’ve been fortunate to have a strong economy for the past decade. Let’s not tank the economy with the misguided conception that trade wars are fun,” Boyle added.
 
Columbia Sportswear has assembled a portfolio of brands for active lives, making it a leader in the global active lifestyle apparel, footwear, accessories, and equipment industry. In addition to the Columbia brand, the company owns the Mountain Hardwear, Sorel and Prana brands. (RKS)
 

Fibre2Fashion News Desk – India


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