To fight Donald Trump’s China tariffs, hundreds of US companies descend on Washington
- 320 representatives from US manufacturers, retailers and other companies and trade groups are expected to appear over seven days of hearings with officials
- While Trump likes to say China is paying the tariffs, economists say it is US importers that pay them and some of that gets passed to consumers in higher prices
New Balance Athletics has long advocated for and benefited from tariffs, competing with Nike and other footwear companies while still making shoes in the United States. Now, it is among the critics of US President Donald Trump’s duties testifying at a public hearing that started on Monday.
The Boston-based firm said while it supported Trump’s efforts to force China to address intellectual property theft in a trade deal, its US factories were supported by a global supply chain connected to China and built over decades. Duties on soles and other components would hurt the business, as did China’s retaliatory tariffs on US exports, the company said.
Trump’s proposed levies won’t “just translate into higher costs, but jeopardise our ability to maintain production levels and continue investing in our domestic factories”, New Balance vice-president Monica Gorman said in comments posted online.
About 320 officials from US manufacturers, retailers and other companies and trade groups are set to appear over seven days of hearings that started on Monday at the US International Trade Commission before panels of officials from the Office of US Trade Representative and other agencies.
Look out, American toy shoppers here comes the Grinch That Tariffed Christmas!
While some companies, including Rheem Manufacturing, support the duties, most argue that Trump should not tax their products.