Some other companies in addition to Apple who are considering moving out of China.
Fox News has a story about some other companies in addition to Apple who are considering moving out of China.
GoPro
The action camera company is moving the bulk of its production out of China to Mexico by mid-2019. It will still continue to manufacture its local products in the country.
“Today’s geopolitical business environment requires agility,” GoPro CFO Brian McGee said in December. “We’re proactively addressing tariff concerns.”
Hasbro
The toymaker is shifting most of its production from China to Mexico, Vietnam and India due to Trump’s tariffs.
Steve Madden
The footwear and handbag maker, which ships the bulk of its goods from China, is shifting production to Cambodia. Executives at the Pawtucket, Rhode Island-based company previously said prices during the upcoming holiday shopping season would be higher as a result of the increased duties.
“We’d love to make shoes in the United States,” CEO Ed Rosenfeld told NPR. But “it’s very hard to envision a scenario where we’d make the types of products that we make, at the prices that we make them, in the United States.”
Stanley Black & Decker
The firm is shifting production of its hallmark Craftsman brand to the U.S., where it is opening a new facility in Fort Worth, Texas.
The company plans to hire 500 people for the $90 million plant, but will employ robots and other advanced technology to keep production costs in line with those in China.
Brooks Running
The athletic footwear maker owned by Warren Buffett’s Berkshire Hathaway is moving production from China to Vietnam, largely due to the new tariffs.
“We’ve had to make a long-term decision on this picture. It’s disruptive, but the reality. So we’ll be predominantly in Vietnam by the end of the year.” CEO Jim Weber told Reuters.
Whirlpool Corp.
The company is moving the manufacturing of some of its KitchenAid appliances to the U.S. from China.
Intel Corp.
CEO Bob Swan in June told Bloomberg the company is reviewing its supply chain and whether production can be shifted out of China.
“How do we move goods — sometimes our customers will move their operations — and how do we work the global supply chain so less product is coming directly from China to the US that would be subject to tariffs?” he told the outlet.
Read more here.
Source: http://bobagard.blogspot.com/2019/06/some-other-companies-in-addition-to.html
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