While New Balance in the past supported a tough trade policy in 2016, the American shoe manufacturer is now taking an about face as it imports a majority of its components from China.
While New Balance manufacturers about 4 million pairs of shoes a year in the US, it relies on the importation of components in order to do so – and a majority of those components are from China. New Balance claims the parts they need that are covered under “List 4” are no longer available in the United States.
A letter from New Balance indicated the new tariffs would impact their ability to reinvest and manufacture shoes in the US. New Balance will join more than 300 executives from other companies to testify against the List 4 goods this week.
Will post more news from the hearings starting tomorrow as they become available. If you have questions whether your imports will be covered under “List 4”, contact experienced trade attorney David Hsu at 832-896-6288 or by email at email@example.com.