Uniqlo May Leave United States
Uniqlo President | Photo Credit Fox News
Japanese retailer Uniqlo said they will close U.S. stores if Trump doesn’t change his policy on foreign manufacturing. The president of the company made this claim in a Japanese newspaper.
The decision from Uniqlo will be a business decision, rather than a political decision, but if they aren’t willing to play ball with Trump’s demands, it doesn’t really seem like America is losing much, based on how many other companies will work with Trump to bring more jobs to America.
The issue with this is that other companies may follow their lead.
Japanese Companies Threatens Trump Policies
Uniqlo | Photo Credit Uniqlo
Fox News reports:
“The President of Japanese retailer Uniqlo is threatening to close all U.S. stores if President Donald Trump changes policy, forcing the country to manufacture in the United States. Tadashi Yanai, Chairman and President of Fast Retailing Company, which owns Uniqlo told the Japanese newspaper that he “vows to act decisively if told to move manufacturing operation to the U.S. Anyone will think that it is an open-and-shut impossible situation.”
“Yanai told the newspaper “If manufacturing products in the United States is not a good decision for consumers, it is meaningless to do business in the United States.” As part of his campaign promise to revitalize American manufacturing and bring jobs back to the U.S., Trump has repeatedly threatened to impose a tariff on foreign imports.
“In January, then President-elect called out Toyota to reconsider the location of it’s planned factory in Mexico. ‘Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax’ tweeted Trump. There are roughly 50 Uniqlo stores currently in the U.S. The company had hopes to expand in America, opening 20 to 30 stores per year.”
Uniqlo May Be First Of Many To Leave
Uniqlo | Photo Credit Uniqlo
According to the Forbes, this could be the first of many companies to leave U.S.:
“This is exactly the sort of thing that would happen a lot if Congress were to go ahead with the Border Adjustable Tax that is being talked about in GOP circles. It’s perhaps a little unfair to be blaming Trump for this tax idea as he has indicated that he’s not all that in favor of it.
“But Donald Trump is in favor of the underlying idea, which is to try to get more manufactured in the United States and less outside it being sold to U.S. consumers. It’s a most odd idea in the first place but it seems to be one of those bete noirs that occasionally flows through the crowds as a madness.”
Sponsored Links
