The mounting U.S. trade tensions with China have many business executives concerned about the impact of tariffs on their operations and costs. Columbia Sportswear CEO Tim Boyle told the FOX Business Network’s Stuart Varney, “Frankly, it’s a damage to our business when free trade is restricted in almost any way.”
Boyle also said his company is "very fortunate" because Columbia does not "have a significant presence in China that’s imported into the U.S.”
But when Varney asked if Columbia would raise prices if the new 10 percent tariff on China goes into effect on September 1st, Boyle responded, “Oh absolutely.”
When President Trump spoke to the press today he weighed in on the impact of the trade war with China on consumers.
“The American taxpayer is not paying for it. What China is doing is by depressing their currency and by pouring tremendous amounts of money into the system, they’re paying for it. The prices have not gone up…in fact in some cases they’ve gone down.”
But Boyle disagreed, telling Varney, “I don’t think that’s accurate.”