Nike outlines support for TPP, praises Obama
President Obama speaking at Nike headquarters/C: Nike
Sports footwear and apparel maker Nike has expressed support for the US Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP) on Friday when President Barack Obama visited the company’s headquarters at Beaverton Oregon.
The company announced its intention to accelerate investment in advanced footwear manufacturing in the US, if TPA is passed and a TPP agreement is finalised, according to a statement issued by the company.
“We commend President Obama for his strong leadership to advance these important trade initiatives,” said Mark Parker, president and CEO, Nike, Inc. “Our employees and our business depend on free trade and the ability to reach athletes and consumers around the world.”
Footwear tariff relief would allow Nike to accelerate development of new advanced manufacturing methods and a domestic supply chain to support US-based manufacturing.
This advanced manufacturing model is expected to lead to the creation of up to 10,000 manufacturing and engineering jobs in addition to thousands of construction jobs and up to 40,000 indirect supply chain and service jobs in the US over the next decade.
“We believe agreements that encourage free and fair trade allow Nike to do what we do best: innovate, expand our businesses and drive economic growth. Nike has always led the way in product innovation, and now we will be able to accelerate our investments to continue to drive manufacturing innovation,” Parker said.
US manufacturing would allow Nike to deliver product faster to market, create innovative performance footwear, provide customized solutions for consumers, and advance sustainability goals.
Nike employs 26,000 people in the US, including more than 8,500 in Oregon, and does business in 190 countries around the world. The company contributes an annual economic impact to Oregon of more than $2.5 billion. (SH)
Fibre2fashion News Desk - India