New Balance Athletics Inc. has long advocated and benefited from tariffs, competing with Nike Inc. and other footwear companies while still making shoes in the U.S. Now, it’s among the critics of President Donald Trump’s duties testifying at a public hearing starting Monday.
The Boston-based firm said while it supports Trump’s efforts to force China to address intellectual property theft in a trade deal, its U.S. factories are supported by a global supply chain connected to China and built over decades. Duties on soles and other components would hurt the business, as do China’s retaliatory tariffs on U.S. exports, the company said.
Trump’s proposed levies “will not just translate into higher costs, but jeopardize our ability to maintain production levels and continue investing in our domestic factories,” New Balance Vice President Monica Gorman said in comments posted online.
