Washington sources reported that new Balance has long pushed to supply U.S. made shoes to the Pentagon and argued against reducing tariffs on imported finished footwear when the U.S. was negotiating the Trans-Pacific Partnership with 11 other nations earlier this decade. Reportedly Trump withdrew from the TPP in 2017, and his use of tariffs on goods and components has drawn opposition from a swath of U.S. companies and industries.
Furthermore about 320 officials from U.S. manufacturers, retailers and other companies and trade groups are set to appear over seven days of a hearing. Meanwhile some companies including Rheem Manufacturing Co. support the duties, most are arguing that Trump shouldn’t tax their products. Apparently Trump likes to say china is paying the tariffs, economists say it’s U.S. importers that pay them and some of that gets passed to consumers in higher prices.
Moreover it is the fourth round of hearings, after Trump levied duties on $250 billion of products last year. Further Commerce Secretary Wilbur Ross downplayed the prospect of a major trade deal emerging from a possible meeting between the two presidents, telling the Wall Street Journal in an interview Sunday that the most he thinks will happen is an agreement to resume talks.
