In a statement, Tim Boyle, president and CEO of Columbia Sportswear Co., decried President Trump’s plans for a new 10 percent tariff on $300 billion of Chinese imports. He said in part, “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.”
The full statement:
“President Trump announced today 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. If tariffs are imposed, Columbia Sportswear Company – along with many other manufacturers in our industry – will be forced to raise prices on our products. This is a massive tax on employers and consumers, not on China.
“Footwear and apparel are some of the most highly taxed products in the United States. Herbert Hoover-era tariffs as high as 37.5% are already in place and are being paid by U.S. consumers. With President Trump’s proposed 10% 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 U.S. 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.”
