The CEO of Uniqlo’s parent company Fast Retailing Co., says the fast fashion brand will shutter its retail outlets in the U.S. if Trump follows through with his proposed import tariff. The President’s purposed plan would impose a tax all on all non-American made goods. According to the administration a blanket tariff on imports will stimulate the economy and effectively make it more costly for companies to manufacture outside the U.S. Opponents say it will do little to create manufacturing jobs, because there is a lack of skilled labor stateside. Instead they say it will only cause greater expense to consumers.
Uniqlo currently has 51 stores in the U.S. with plans to open 20 more in the coming year alone. CEO Tadashi Yanai told a Japanese newspaper that if the tax plan goes through it would be “meaningless to do business in the United States.” According to Yanai the brand would no longer be able to make the high quality basics it’s known for; “we would not be able to make really good products at costs that are beneficial to customers.” He went on to say that many brands would likely take the same course of action; “it is an open-and-shut and impossible situation.”END
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createdAt:Tue, 04 Apr 2017 14:28:51 +0000