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Tariff Quote Watch: New Balance Worried Tariffs May Leave It Off Balance

China 2874 Cons. Discr. - Apparel 447 Quote Watch 426 Tariffs 1765 U.S. 5161 Vietnam 337

The immediate threat of U.S. tariffs on Chinese imports in the footwear industry has been alleviated following a meeting between President Xi Jinping and President Donald Trump. The risk has not been cut to zero though. In testimony last week sports shoe maker New Balance noted “the limited supply chain that exists in the U.S. today is simply too small” to support shoe making in the U.S. Tariffs could make it altogether unsustainable and leave the shoe manufacturer to move all production overseas. New Balance has already cut its seaborne imports from China to 5.0% of the total in the 12 ...

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