While half of the United States is still coming to terms with a Donald Trump presidency, it’s clear New Balance is very excited about it.
SoleCollector notes that New Balance is the first major sportswear company to back the president-elect since winning the race for president on early Wednesday morning.
Many companies are making public statements about president-elect Trump and what his presidency will mean for the Trans-Pacific Partnership. While Nike issued what amounts to a non-statement about the future of the trade deal, New Balance minced no words about what they feel is a failure of the current Obama administration to protect American business interests.
The Boston-based company’s disdain for TPP is nothing new. In April, NPR’s All Things Considered did a story about the company’s criticism of the trade deal.
New Balance has made it a company priority to make some of its shoes in the U.S., and New Balance gets a benefit from it – their competitors pay the tariff, the tax. New Balance, on its American-made shoes, does not. At least, until the TPP came along. Part of the trade deal is that tariffs on shoes from Vietnam will be phased out, and that is a huge boost to companies that import their shoes. Think Nike or Adidas. And frankly, it’s good for some shoe buyers.